Retail Group Co-Leader Ronald Friedman wrote a year in review of how the retail industry fared in 2018, for Fashion Mannuscript.
By Ronald Friedman, Co-Leader, Retail & Consumer Products
What are some of the factors that led us to this great holiday spending season? Tax cuts have stimulated the economy, and big corporations are investing in their businesses. We are currently experiencing the lowest unemployment rates in the last 50 years. Companies are not able to hire enough staff to fill all the positions they have available, salaries are on the rise, and consumers have more spendable dollars. Consumer confidence in the economy is reaching highs we haven’t seen in many years. These trends combine to make for a strong retail environment.