Policymakers on both sides of the aisle agreed to prop up the economy with stimulus money when the global pandemic hit in full force in March 2020. Arguably, economic preservation was a priority in the face of COVID, since it could have set off a deep recession. Relief measures were necessary.
But inflation was also predicted as trillions of dollars entered the economy. Added to that were shortages in the supply chain with increasing demand and you had the makings of rising prices and inflation not seen for decades.
Fast forward to the fourth quarter of 2022. In order to curb the sharp rise in inflation, the Fed raised interest rates to cool off the economy. Our industry has felt the effects of inflation and a slowdown in the economy in the second half of this year, with lower traffic at retail, less spending on luxury items, and a very cautious consumer.
As things tighten in your business, you may need some assistance to carry you through a much softer economic time. Don’t delay in ensuring success this holiday season by scheduling a high-impact sales event with us. At The Gordon Company, our goal is to be there when you need us most. Contact us for a free, no-obligation consultation to assess your needs.
Jeff Gordon, CEO