From Where I Sit…
By Bob Garrett
December 3, 2024
By Bob Garrett
December 3, 2024
"A customer is the most important visitor on our premises. He is not dependent on us.
We are dependent on him."
-Mahatma Gandhi
Sitting here writing this article as the so-called ‘Cyber Monday’ begins to wind down and just heard the radio announcer characterize today’s record setting day consumer sales as a “Million-Dollars-a-Minute phenomina.” Well, I just couldn't resist, so I pulled out my trusty pocket calculator (i.e. Smartphone) and punched in the numbers. In reality, today’s on-line sales are closer to 1,500,000 per minute.
Basic Math aside, I can happily pass along to you that your fellow Chamber members, particularly those in our ever expanding Retails Sector are reporting to me that year-end and holiday sales are going very, very well. On Saturday, I stopped to chat with Richard Hilsher at his Port Treverorton store. There’s no better place to hang out than at Hilsher’s Store early on Small Business Saturday, I thought.
Richard looked a little worn down as he told me that Black Friday had been a true ‘Door Buster.’ He only half jokingly suggested to me that he and his staff wouldn't mind a little slower day for Small Business Saturday than what Black Friday had been the day before.
Wrapped up Small Business Saturday juants around the valley in Mount Carmel at Matlow's Clothing Store on Oak Street to pick up a new suit. Matlow’s still and always will set the ‘gold standard’ for style conscious and sharply dressed customers. I’m thrilled to that this key Coal Region retail corridor was, in fact, bustling.
One more interesting tidbit that I picked up while out-and-about on Small Business Saturday, this one from Richard Hilsher, was that he noticed that shoppers seemed to be in an extraordinarily good mood this year. Who doesn't like a happy shopper?
Here again, I couldn't help myself so a little research later, I discovered that at the end of November the Index of Consumer Sentiment as measured the University of Michigan was in fact up to 71.8 from 70.5 in October. Digging deeeper into their data they report that in Republican households this index climbed more than 15 points.
Alternatively, in Democratic-leaning households this same Index dropped by more than 10 points. The source of this information is the Wall Street Journal. As with seemingly all economic data, “…it depends on who you ask.” Elections have consequences and all-in-all, the economy is buzzing along nicely—thank you shoppers.
As the pandemic gets further and further in the distance of our collective rear view mirrors any improvement in the Index of Consumer Confidence/Sentiment is welcome news.
Hopefully, in the coming months and years, with your Chamber membership and participation, we can start to unwind some of the key drivers of inflation such as government overreach and unnecessary regulation. Time will tell.
What we know for sure is that by working together our best days lie just ahead.
