2016 IACA American Indian Arts Business Survey - page 16

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The retail sector is less optimistic than year ago about the possibility of a business
increase in 2016.
Regarding the overall economy, retailers are a less positive about the overall economy
than they were a year ago.
Opinions
2016
2015
Business will increase
34%
36%
Will not add employees
78%
70%
Economy will rebound
16%
30%
Economy will remain same
56%
32%
Cost of Business and Actions Taken
57% of respondents have felt the costs of business increase over the previous 12 months,
though at a more moderate pace.
Costs Have Increased
2015
2014
Significantly
7%
16%
Somewhat
50%
46%
The major contributors to the increase business costs are
inventory costs – 72%
marketing expenses – 36%
Salary Costs – 21%
The economic pressures have forced respondents to take a number of actions to offset the
expense increases, including:
Reduce stock on hand – 38%
Cut back travel – 33%
Cut marketing expenses – 28%
Change product offerings – 26%
No actions to be taken – 31%
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