The 2023 News Can be Good or Bad – It Depends on Your Vision
As a national association keynote speaker with a particular interest in small business, I know that the topic of vision has never been more important than it will be in 2023. How do you personally see the coming year?
I ask the question, because all around me, I observe and hear association executives and small business leaders lament at the “state of things.” It is almost like they have a negative wish-fulfillment. That is, if the vision of 2023 they have is seen as a year of failure, they will certainly fail.
In fact, in all of the years that I have been a national association keynote speaker, I have never quite felt the level of pessimism in the air as I have lately experienced it, but is it a fair assessment? My answer is a resounding, “No!”
Changing the vision to positive
The economic outlook laid out by the international consulting firm Deloitte show three important trends that say “good” or “bad.”
- “A slowing economy will keep retail sales growth in check.” Nevertheless, it’s important to note that, “A relatively healthy labor market will, however, continue to boost sales.”
- “Inflation has lowered consumers’ purchasing power despite gains in nominal income due to the strong labor market.” However, economists note the average wages will show a more than 8-percent increase.
- “Consumer spending on services has been picking up steadily as consumers return to bars and restaurants, take vacations, and enjoy sporting events as they did before the pandemic.” However, levels of personal savings have declined.
Despite the whispers of gloom and doom, the Deloitte report reveals several encouraging signs in 2023, for example, in sharp contrast to the pessimism over the supply chain, “Seven in 10 leaders say they are [now] very confident that they will be able to deliver a seamless experience to consumers across channels.”
Other lessons the report conveys is that although consumers are feeling much more empowered to return products face-to-face, such personal interactions are seen as positives to increase sales and that those retailers who continue to improve the digital experience will benefit from increased revenues.
Overall, the potential to increase and improve sales despite recession, inflation and layoff fears are exciting reasons for an optimistic outlook.
It all depends on vision. If retailers and retail associations can only see the coming year in terms of what could happen from a pessimistic point of view, rather than what may actually be unfolding, numerous opportunities may be lost.
Many experts believe that what could cause a recession is a nationwide mindset of the inevitability of a recession. Why not turn that around? Why not a greater sense of optimism and confidence in the future? Economists are telling retailers that inflation is slowing; supply chain problems are diminishing and AI is improving the customer experience.
Why not be determined to dwell on the good rather than fixate on the bad? Why not give optimism a try?
To reach Scott Burrows, National Association Keynote Speaker, contact Scott today by phone at: 520 – 548 – 1169 or through this website.