due to Trump’s statements that he would impose tariffs of up to 60 per cent on China if elected. As a precaution, the retailer has been developing factory bases in countries, such as Cambodia, Vietnam, Mexico and Brazil.  “Just under half of our current business would be potentially subject to tariffs on Chinese imports (if Trump decides to impose tariffs when he takes office in January),” a company executive said on a post-earnings call. “Our goal over the next year is to reduce the percentage of goods we source from China by approximately 40 per cent to 45 per cent,” the executive added. Steve Madden is one of the few retailers that has spoken publicly about the impact of a second Trump term after the election.  Inside Retail put a call-out to industry leaders ahead of the election, but many retail executives and brand founders declined to share their views on what Trump’s win could mean for their business.  However, one person who did was Samira Baraki, the founder and CEO of fine jewelry and lifestyle brand Miraco.  “In changing times the need for human connection becomes greater and we see the retail industry evolving toward greater personalization, digital presence, and transparency about product ethics and origin; areas where we’re actively growing and innovating,” Baraki told Inside Retail.  “As economic factors and market trends evolve, we remain agile and ready to meet these changes, especially given the rising value of precious materials like gold. We’ll focus on enhancing our direct-to-consumer experiences, bringing our mission and vision into new retail spaces to connect with even more people in an increasingly meaningful way.”  As a woman-founded brand, Baraki said that her brand’s values transcend political shifts. “However, we recognize the impact that elections can have on the economy and on our community. We stand ready to adapt as needed while remaining true to our mission of ethical practices, inclusivity, empowerment, and sustainable growth,” she said.  “We know that soon we’ll live in a time where women and minorities will have more financial resources to back the candidates that support our causes. Just know the best defense you can have is setting yourself up financially. We believe our products are sound investments that allow women to plan for their future and changes mean we will pivot to ensure the best pricing and quality for our fine jewelry despite external factors.”  Another company that is moving proactively rather than reactively is Vontélle Eyewear. The company’s co-founder and chief operating officer Nancey Flowers-Harris stated she and her co-founder, Tracy Vontélle Green, are “evaluating potential impacts on our supply chain to ensure resilience amid possible shifts in trade policies, tariffs, or import/export regulations.” Harris explained that since the company first launched in 2020, right at the beginning of the pandemic, Vontélle experienced firsthand how abrupt policy changes could challenge small businesses, impacting costs and timelines. “While we’ll continue working closely with our trusted suppliers,” Harris explained, “we’re also exploring ways to diversify our sourcing and manufacturing options. This approach will help us maintain steady production, safeguard customer affordability, and stay adaptive rather than reactive in this evolving landscape.” Post-election, how should retailers move forward? As Nikki Porcher, the founder of Buy From A Black Woman, a non-profit that provides resources and support to Black women business owners, told Inside Retail, “With a Republican-led Senate and Donald Trump back in office, I want to remind all business owners that we’ve faced challenges before and will rise to meet the ones ahead. The world keeps changing, but the one thing we can control is how we respond, adapt, and build our businesses.” Despite this, the non-profit founder said the fundamentals of growing a business remain the same. Here are three things she said every business owner can do right now: Strengthen your digital footprint “Now more than ever, online presence matters,” Porcher stated. “A solid online presence is vital whether you’re a retail business or a service provider. Ensure your website is up-to-date, social media is active, and e-commerce is running smoothly. Reach your customers where they are, on their phones, social media, and online.” Foster customer loyalty “Your customers are your biggest asset. Keep them coming back by providing excellent service, offering exclusive deals, and creating a brand they can trust. A loyal customer is your best marketing tool. Keep them engaged, and they’ll help your business grow.” Collaborate with others “There’s power in the community. Work with other businesses, whether that’s through cross-promotions, joint events, or shared resources. The more we work together, the more we can lift each other, especially during times of uncertainty.” The non-profit founder acknowledged that “it’s easy to feel overwhelmed by all the changes happening around us, but remember, business is about adapting, staying resilient, and keeping your eyes on the prize. We got this”. “And if you do nothing else with your day, make sure you buy from a Black woman,” Porcher concluded.