Consumer confidence is everything when it comes to retail. Storeowners and businesses depend on their customers for their survival and success. Shops and retail stores in One Loudoun can rest assured that their customers are eager to shop and always within walking distance of their storefront. As consumer confidence rises, these retail stores can expect even more revenue, traffic and consumer loyalty.
The Conference Board, a non-profit organization that provides information on the behaviors of consumers, uses the Consumer Confidence Index to give businesses an idea of general opinions held by consumers and what to expect in the future. Using results from a survey given out to 5,000 households, the index is comprised of two other indices: the Present Situation Index, which accounts for 40 percent of the results and the Expectations Index that accounts for 60 percent. Collectively, they give an accurate measure of consumer confidence, directing businesses everywhere.
Stock market analysts, as well as investors, watch the Consumer Confidence Index carefully to help them determine the course of the stock market. When the retail industry is booming it helps to keep stocks growing, which in turn will keep growing consumer confidence. This cycle, along with other components like housing and employment, aid recovery and bring the U.S. that much closer to a healthier economy.
Consumer spending drives 70 percent of economic growth, which is exactly why it’s so important to keep spending. When consumers feel more confident about their finances, they’ll be more willing to spend money on items they previously had cut out of their budget. This includes new seasonal clothing, upgraded appliances, and things that they want but don’t necessarily need, like accessories and luxuries.
One Loudoun couldn’t offer a better position for retailers in an improving economy. We’ve got everything; the perfect location, a constant stream of customers, dedicated residents, and a huge draw to our community. The economy is improving every day, and as it does, all types of retail will benefit!