In the next few months, each one of us will be stepping away from our desk or retail store to go do something very important. One of us will drive over to the local library, one of us to the town hall, and one of us to an elementary school in the area. But the common denominator is that we will all be waiting in a long line somewhere, maybe even outside in the cold, while the chilly wind brushes against our cheeks. We will all leave the comfort of our homes and warmth and put ourselves into this uncomfortable position for just one reason: the presidential election.
This one reason, however, will impact the retail industry and our lives for the next 4 or more years. So, it’s important that we do our research and make an informative decision on that particular day. For my Brick intro this week, I wanted to share a blueprint with you all that I hope will help in measuring each candidate’s values and goals and educate us in making a decision that will help both the American people and the retail industry. I don’t want to be biased and say who people should vote for; that’s not for me to say. My goal is only to inform you of the factors a retail industry employee should consider while making the important decision.
When evaluating each candidate in your decision-making, consider these factors and ensure that they align with your personal goals as well as the advancement of the retail industry:
1. Small Business Support:
We should examine their plans for supporting small and medium-sized businesses, local businesses, and their views / plans on the retail industry giant, Amazon. Do they have plans for increasing Amazon’s profit margins even more while closing all brick-and-mortar stores in the country? Or do they put more emphasis on bringing Sears and other recently closed stores back? Do they put emphasis on supporting small businesses through tax breaks, grants, or loans?
2. Access to Investment Capital:
Consider their stance on improving access to loans and grants for small businesses, which can spur growth and innovation. Research current tax breaks for new businesses. Does this candidate provide better tax breaks for new business owners, or is he/she making starting a business more difficult?
3. Trade and Tariff Policies:
Analyze their stance on trade agreements and tariffs, as these impact the cost and availability of goods in retail. Analyze their plans for domestic production and measure how the retail industry will be impacted by them. Does the candidate plan for more domestic production, or will he/she rely more on imports?
4. Environmental & Sustainability Initiatives:
Evaluate their support for sustainability initiatives, such as reducing waste and promoting eco-friendly practices in retail. These can influence the cost of doing business and supply chain management. Consider their stance on climate change and environmental regulations. Does the candidate plan to put more pressure on big businesses like Amazon to be more environmentally friendly?
5. All Other Important Policies:
Lastly, in the midst of researching all of those other retail industry-related policies in a candidate, we should also remember to measure each of these factors precisely in each candidate: their plans for economic growth, job creation, wage increases, corporate tax, sales tax, income tax, minimum wage laws, healthcare policies, and more. These directly impact the American people, who directly impact the retail industry. So, candidates should check all or the majority of these boxes in helping the people first.
No blueprint for measuring a candidate and predicting success is perfect, but these are some views of each candidate we should be evaluating carefully to determine if their goals align with our personal goals as well as the retail industry’s advancement goals. As retail industry workers, our lives will be indirectly impacted by our future president’s decision-making. So, let’s make sure that when we finally come up to the voting machine after waiting through the chilly winds in a long line outside, we make a well-informed decision.