Tuesday, November 8, 2016, will forever go down in history as the day America unexpectedly, according to underestimated polling projections, elected its 45th President. Like most of the country, Ketner Group had been keeping an eye on the debates and discussions leading up to the election and are now looking forward to how the country will change under this new leadership. We’ve pulled together some coverage we’ve seen since the announcement of the President-elect that highlight how the election could affect retail as we head into the holiday season:
The National Retail Federation (NRF) is closely watching how President-elect Trump’s policies could impact consumer sentiment and spending as we head into the holidays.
Shortly after Trump was announced as President-elect, NRF President and CEO Matthew Shay asked him as well as other members of Congress to practice pragmatism when implementing new policies that will affect trade with other countries and the retail industry. This statement comes after Trump has made comments that would greatly impact the industry.
Forbes contributor Richard Kestenbaum takes a look at two major effect Trump’s election to the Presidency could have on retail: paralysis and costs.
The fashion industry is keeping a keen eye on how Trump’s policies will affect trade and taxes. During his campaign he released proposals he would implement during his first 100 days in office, among them would be a renegotiating or removal of major trade agreements like NAFTA and TPP and changes to the tax code which could have major implications for the fashion industry.
As retailers wrap up a difficult year, the economic uncertainty from the election, as well as trade and tax policies that could be enacted under a Trump presidency, have retailers bracing for major change in the industry.