How will Trump's Administration Impact the Housewares Industry?
Today is Inauguration Day in the US. The International Housewares Association released a press release outlining some of the changes the home and housewares industry is anticipating as the Trump administration takes over. Some key highlights:
- A trade war and tarrifs would be detrimental for the housewares industry.
- Interest rate increases and tax reform could boost the economy & sales.
- Online sales and digital marketing will present new and exciting opportunities to give buyers a seamless sales experience between in-store and online shopping.
As IHA Board Chairman, Greg Cairo summarizes in the press release: “Cooking and taking care of the home will continue to be part of everyday life. Consumers will want the best quality cookware and home appliances that fit their lifestyle. We will continue to innovate and offer consumers valuable products, great quality and durability at the best price.”
As we enter the next political chapter, the housewares industry is facing some daunting challenges and exciting opportunities. The IHA reports that housewares sales are usually more stable than the overall economy. The right steps in product innovation, marketing and sales in the coming days can set your brand apart from the competition and safeguard your business in uncertain times. To discuss how E-Power Marketing can help your business grow, please contact us!