2015 Survey of the American Indian Arts Business - page 16

16
A Mixed Economic Outlook and Thoughts About Federal Government Support
The retail sector is less optimistic than year ago about the possibility of a business
increase in 2015.
Regarding the overall economy, retailers are a less positive about the overall economy
than they were a year ago.
With respect to Federal Government support, over 67% of the retail sector either has no
opinion or feels that the Federal Government does not support their business, which is a
shift from the 2013 feelings.
Opinions
2015
2014
Business will increase
36%
55%
Will not add employees
70%
69%
Economy will rebound
30%
40%
Economy will remain same
32%
33%
Federal Govt. Non-Support
67%
88%
Cost of Business and Actions Taken
61% of respondents have felt the costs of business increase over the previous 12 months,
though at a more moderate pace.
Costs Have Increased
2014
2013
Significantly
16%
17%
Somewhat
46%
49%
The major contributors to the increase business costs are
inventory costs – 62%
marketing expenses – 37%
travel and expenses – 27%
The economic pressures have forced respondents to take a number of actions to offset the
expense increases, including:
Reduce prices – 33%
Change product offerings- 29%
Reduce travel expenses – 29%
Reduce operating costs – 27%
Reduce stock on hand – 27%
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