You may be thinking, “How is the Presidential Election related to Christmas?” Although things may not seem so related on the surface, there are a variety of factors that can affect the behavior of consumers and their spending.
Factors Affecting Consumer Behavior
One of these factors is stress. The 2020 Presidential Election is unique in that it was run during a global pandemic. Because of COVID-19 concerns, mail-in ballots were extensively during this election. The procedures for counting mail-in ballots are still unclear, as various states have different for accounting for these ballots.
Because of the vagueness of mail-in ballot procedures, the general populace of America is filled with uncertainty as to which presidential candidate will win. Some mail-in ballots may not be counted until well after the election, and the stress of not knowing what to expect may be carried to the holiday season.
Retailers' Reaction
Retailers are prepping for the worst. The COVID-19 pandemic has already dealt a great blow to their sales, and their only hope for any recovery is the holiday season, when people are dying to come out of their homes to SPEND. Yet, because of the tight election, a blow could dealt to consumer confidence.
Although this year has been, and still is, very stressful for the whole nation, that will not stop me from buying gifts for this holiday season. Will it stop you?