Fall 2016
2016 ECONOMIC FORECAST RECAP:
INSIDE THIS ISSUE: 01 Economic Forecast Recap 02 Letter to Members 03 Think. Shop. Buy. Local’s
"Loyal to Local" Campaign
04 The RMA Scene 06 RMA Members in the News 08 RMA Endorsed Vendors 09 Welcome New Members! 10 VRF Legislative Update 11 Valor Awards Spotlight Upcoming Events
RVA Retailers Optimistic About 2016 Holiday Sales Alan Gayle, Director of Asset Allocation and Senior Investment Strategist at RidgeWorth Investments, joined us to discuss "The Ever-Evolving Economic Landscape" at the 2016 Economic Forecast Breakfast on September 9, which drew nearly 200 people to The Westin Richmond. In case you missed it, his presentation addressed the dot-com bubble and other factors that have had lingering effects on our current economy. He also spoke on various strains caused by the abrupt rise of the dollar's value. However, perhaps the biggest takeaway for retailers was that consumer spending
is reaching record levels, providing a "solid and sustainable" increase in job wages and today's housing market. Gayle predicted that this will have a positive impact on this year's holiday spending, especially in core retail sales. After the presentation, RMA turned to event attendees for their projections on 2016 holiday sales. The polling results were almost evenly split between HIGH and FLAT, meaning local RVA retailers are cautiously optimistic about sales during the upcoming holidays. The RMA team will be keeping a close eye on this throughout the season, with our fingers and toes crossed!