What will the 2016 presidential election do for the luxury trades?
With the new President Elected (not by all), America will take a new direction and everyone is on pins and needles to see how the next four years will pan out. There are many issues that comes along with Donald’s Trump’s presidency, but what is the main focus for America may become an American problem.
Retail and Trade will no longer be the same, which will for shake things up for even the big dogs & cats in luxury living to take notice. As most of the fashion luxury labels are coming from outside USA, mainly Europe, this could be a disaster for the luxury sector all together.
Say bye to American luxury companies making it in China or Mexico, which will spike all coast up for the material needed. Most of the brands would need to make the products at home, which will ultimately increase the costs for some companies and the final price of the goods to a whole new level. European and other outside items will be imposed heavy taxes on and, hence, will result in a drop in their revenue stream coming from American consumers, as well.
I am not sure what the future is in store for both retailers and consumers within the next four years, let us hope that it goes by as painful and as smoothly as it can be. “In order for the world to continue growing - we have to spend money to make money and to make money is to spend money”.