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Holiday Decor Spending Could Help Retailers

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Holiday Decor Spending Could Help Retailers

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The Milam family turned its front lawn into a holiday-themed putt-putt course. Going all out on Christmas decorations has become a tradition for the Dallas family.

For the holiday season, the front lawn of the Milam family’s house in Dallas has transformed into a mini golf winter wonderland.

Visitors stop by from nearly sunrise to sunset to admire the Christmas decorations — and to borrow a club to play a round of putt-putt themed around Santa, candy canes, snowflakes and more.

“You can see not just the excitement and wonderment of kids, but also of adults,” said Mike Milam, a firefighter and father of two.

Decking out the front yard has become an annual tradition for the Milam family since the Covid pandemic. The family of four’s elaborate decorations capture a trend that many retailers, including Home Depot and Walmart, have sought to capitalize on in recent years: Some customers are going bigger on seasonal decor, even as they watch how much they spend on other discretionary items.

Consumers are prioritizing decorations and experiences over gifts this holiday season, according to an annual holiday spending survey by consulting firm Deloitte. The survey found that respondents expected to spend a little less on gifts this year – down about 3% year over year. But they planned to spend about 9% more on nongift purchases, with most of that jump coming from holiday decorations.

The Milam family turned its front lawn into a holiday-themed putt-putt course. Going all out on Christmas decorations has become a tradition for the Dallas family.

Courtesy: Mike Milam

Holiday decor is providing a boost for retailers, even those like Target, Dollar General, and Dollar Tree, which have noticed a pullback in other categories.

Target’s Chief Commercial Officer Rick Gomez said on an earnings call in late November that customers are “looking for ways to add a little bit of seasonal decor,” which drove higher sales of accessories including frames, candles and vases in the most recent quarter.

Dollar General CEO Todd Vasos said on the company’s earnings call in early December that the retailer was pleased by customers’ response to “the discretionary side of Halloween.” He said shoppers’ reactions to that seasonal decor offered “some glimmers of hope” as the dollar store chain headed into the peak of the holiday season.

Decor may not save the holidays

Yet holiday decor sales may not look as as jolly as some companies wish.

For example, National Tree Company CEO Chris Butler said sales have been slower in the past two years. He said the New Jersey-based company, which sells online through retailers including Kohl’s, Amazon, Macy’s and Home Depot, expects sales to be flat year over year.

Maximizing decor

Though the Milam family created a holiday spectacle, it also wanted to find value along the way.

Instead of buying a lot of decor, the Milam family made most of it. The family spent about $1,000 on its front yard decorations to make the mini golf course, Mike Milam said. Most supplies came from Home Depot, where he bought lumber, paint and other tools. The family of four — Mike; his wife Katie; 12-year-old daughter Merrick; and 10-year-old son Nash — built the putt-putt holes together on nights and weekends starting in the fall.

This year, the family also bought an eight-foot real Christmas tree from Home Depot for $129 and a festive, plastic Christmas chicken for $20 on Amazon.

But most of the Milams’ decor is recycled from past years, Mike Milam said. In his neighborhood, he said most families have put up the same decorations and inflatables in the yard as last year.

Conclusion

In conclusion, the Milam family’s holiday decorations are a testament to the joy and creativity that can come from decorating for the holidays. By making their own decorations and finding value in the process, the family has created a holiday spectacle that brings joy to those who visit.

FAQs

Q: How much did the Milam family spend on their holiday decorations?
A: The family spent about $1,000 on its front yard decorations to make the mini golf course.

Q: Where did the family buy most of its decorations?
A: Most supplies came from Home Depot, where Mike Milam bought lumber, paint and other tools.

Q: What is the most popular decoration this holiday season?
A: According to Deloitte’s survey, respondents planned to spend about 9% more on nongift purchases, with most of that jump coming from holiday decorations.

Q: How does the Milam family plan to celebrate the holidays this year?
A: The family will continue to decorate their front yard and host visitors who come to play the mini golf course.

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Global Trends and Politics

The Politics of Language: How Political Differences are Impacting Workplace Communication

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The Politics of Language: How Political Differences are Impacting Workplace Communication

Political impacts on workplaces are becoming increasingly evident, affecting the way employees interact and communicate with each other. The current political climate has created a polarized environment, where individuals with differing views struggle to find common ground. This phenomenon is not limited to the political arena, as it has also started to affect the way people communicate in the workplace. In this article, we will explore how political differences are impacting workplace communication and what can be done to mitigate these effects.

Understanding the Impact of Politics on Workplace Communication

The workplace has traditionally been considered a neutral environment, where employees can leave their personal views and biases behind. However, with the increasing polarization of society, this is no longer the case. Politics has become a major aspect of workplace communication, with employees often finding themselves at odds with colleagues who hold different views. This can lead to a breakdown in communication, as individuals become less willing to engage with those who hold opposing opinions.

The Role of Social Media in Workplace Politics

Social media has played a significant role in the politicization of the workplace. With the rise of social media, employees are now more connected than ever, and their personal views and opinions are readily available for all to see. This has created a culture of outrage, where employees feel compelled to speak out against colleagues who hold different views. A recent example of this is the case of Google employee James Damore, who was fired after writing a memo criticizing the company’s diversity policies. The incident sparked a heated debate about free speech and diversity in the workplace, highlighting the challenges of navigating political differences in the workplace.

The Effects of Political Differences on Workplace Communication

The effects of political differences on workplace communication can be far-reaching. When employees feel that their views are not being respected or heard, they can become disengaged and disconnected from the rest of the team. This can lead to a breakdown in collaboration and a decrease in productivity. Furthermore, the politicization of the workplace can also lead to a lack of trust among colleagues, making it difficult to build and maintain relationships.

The Importance of Creating a Safe and Respectful Workplace

Creating a safe and respectful workplace is crucial for mitigating the effects of political differences on communication. Employers can play a significant role in promoting a culture of respect and inclusivity, where employees feel comfortable sharing their views and opinions. This can be achieved by establishing clear policies and guidelines for workplace communication, as well as providing training and resources for employees to navigate difficult conversations. For example, companies like Microsoft and Facebook have implemented diversity and inclusion training programs to help employees better understand and respect each other’s differences.

Strategies for Managing Political Differences in the Workplace

Managing political differences in the workplace requires a thoughtful and nuanced approach. Employers can start by encouraging open and respectful communication, where employees feel comfortable sharing their views and opinions. This can be achieved by creating a safe and respectful workplace culture, where employees feel valued and respected. Additionally, employers can also provide training and resources for employees to navigate difficult conversations and build relationships with colleagues who hold different views.

The Role of Leadership in Promoting a Culture of Respect

Leadership plays a critical role in promoting a culture of respect and inclusivity in the workplace. Leaders can set the tone for the rest of the organization, by modeling respectful behavior and encouraging open and honest communication. For example, CEO of Cisco Systems, Chuck Robbins, has been vocal about the importance of diversity and inclusion in the workplace, and has implemented several initiatives to promote a culture of respect and inclusivity.

Real-Life Examples of Managing Political Differences in the Workplace

There are several real-life examples of companies that have successfully managed political differences in the workplace. For example, the company Patagonia has a long history of promoting environmental activism and social responsibility. The company’s CEO, Rose Marcario, has been vocal about the importance of taking a stand on social and environmental issues, and has encouraged employees to do the same. This approach has helped to create a culture of respect and inclusivity, where employees feel comfortable sharing their views and opinions.

The Benefits of Embracing Diversity and Inclusion

Embracing diversity and inclusion can have numerous benefits for organizations, including increased creativity, innovation, and productivity. When employees feel valued and respected, they are more likely to be engaged and motivated, leading to better outcomes for the organization. Additionally, a diverse and inclusive workplace can also help to attract and retain top talent, as employees are more likely to want to work for an organization that values and respects their differences.

Conclusion

In conclusion, the politics of language is a complex and multifaceted issue that can have significant impacts on workplace communication. By understanding the effects of political differences on communication and implementing strategies to promote a culture of respect and inclusivity, employers can help to mitigate these effects and create a more positive and productive work environment. Additionally, by embracing diversity and inclusion, organizations can reap numerous benefits, including increased creativity, innovation, and productivity.

FAQs

Q: How can employers promote a culture of respect and inclusivity in the workplace?

A: Employers can promote a culture of respect and inclusivity by establishing clear policies and guidelines for workplace communication, providing training and resources for employees to navigate difficult conversations, and modeling respectful behavior.

Q: What are the benefits of embracing diversity and inclusion in the workplace?

A: The benefits of embracing diversity and inclusion include increased creativity, innovation, and productivity, as well as the ability to attract and retain top talent.

Q: How can employees navigate difficult conversations with colleagues who hold different views?

A: Employees can navigate difficult conversations by listening actively, avoiding assumptions, and focusing on shared goals and interests. Additionally, employers can provide training and resources to help employees build relationships with colleagues who hold different views.

Q: What role can leadership play in promoting a culture of respect and inclusivity?

A: Leadership can play a critical role in promoting a culture of respect and inclusivity by modeling respectful behavior, encouraging open and honest communication, and implementing initiatives to promote diversity and inclusion.

Q: How can organizations measure the success of their diversity and inclusion initiatives?

A: Organizations can measure the success of their diversity and inclusion initiatives by tracking metrics such as employee engagement, retention, and satisfaction, as well as monitoring the diversity of their workforce and leadership teams.

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Global Trends and Politics

Nike, Adidas Seek Tariff Exemption from Trump

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Nike, Adidas Seek Tariff Exemption from Trump

Introduction to the Tariff Reprieve Request

America’s largest shoe brands are asking President Donald Trump for a tariff reprieve. The Footwear Distributors and Retailers of America trade group sent a letter to the White House asking for an exemption to Trump’s so-called reciprocal tariffs, which the association said pose an "existential threat" to the footwear industry. The letter is signed by 76 footwear brands, including Nike, Adidas, Skechers, and Under Armour.

The Impact of Tariffs on the Footwear Industry

"Many companies making affordable footwear for hardworking lower and middle-income families cannot absorb tariff rates this high, nor can they pass along these costs. Without immediate relief from the reciprocal tariffs they will simply shutter," reads the letter, which is dated April 29. "Many orders have been placed on hold, and footwear inventory for U.S. consumers may soon run low," the trade group said.

Tariff Rates and Affected Countries

The Trump administration announced wide-sweeping tariffs on April 2, including levies on several countries that are important sources for footwear suppliers, including China, Vietnam, and Cambodia. While the initial tariff rates of more than 45% for Vietnam and Cambodia were lowered to 10% for a 90-day period, the Trump administration has only ratcheted up duties on Chinese imports, which are now subject to an effective tariff rate of 145%. Trump’s higher tariffs on dozens of trade partners are set to resume in early July.

Industry Reactions and Warnings

Adidas previously warned that tariffs would lead to higher prices for American consumers. In late March, before the specific reciprocal tariff rates were announced, Nike’s finance chief said global levies and economic uncertainty would result in lower current-quarter sales. The footwear association’s letter said the industry had already been facing significant duties on products such as children’s shoes before Trump announced his broad tariffs. In total, U.S. footwear companies will face tariffs ranging between 150% and about 220%, the trade group said.

The Need for Immediate Action

"This is an emergency that requires immediate action and attention. The American footwear industry does not have months to adjust business models and supply chains while absorbing this unprecedented and unforeseen tariff regime," the association wrote. The group further warned that the tariffs will not result in bringing manufacturing back to the U.S., as Trump has promised, because they erase the certainty that businesses require in order to invest in sourcing changes.

Conclusion

The footwear industry is facing a significant threat due to the tariffs imposed by the Trump administration. The trade group’s letter highlights the need for immediate relief to prevent the shutdown of companies that cannot absorb the high tariff rates. The industry’s warnings and reactions emphasize the importance of finding a solution to this issue to avoid higher prices for consumers and potential job losses.

FAQs

Q: What is the main concern of the footwear industry regarding the tariffs?
A: The main concern is that the high tariff rates pose an "existential threat" to the industry, and many companies may not be able to absorb the costs or pass along the costs to consumers.
Q: Which countries are affected by the tariffs?
A: The tariffs affect countries such as China, Vietnam, and Cambodia, which are important sources for footwear suppliers.
Q: What is the effective tariff rate on Chinese imports?
A: The effective tariff rate on Chinese imports is 145%.
Q: What is the predicted outcome of the tariffs on the footwear industry?
A: The tariffs may lead to higher prices for American consumers, and the industry may face significant job losses and company shutdowns if relief is not provided.
Q: What is the footwear industry’s stance on the tariffs bringing manufacturing back to the U.S.?
A: The industry believes that the tariffs will not result in bringing manufacturing back to the U.S. because they erase the certainty that businesses require in order to invest in sourcing changes.

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Global Trends and Politics

Netflix Stock Hits Record High

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Netflix Stock Hits Record High

Introduction to Netflix’s Winning Streak

Netflix is on a winning streak. The streaming giant’s stock has traded for 11 straight days without a decline, the company’s longest positive run ever. It gained 2% on Friday. This streak surpasses its previous record of a nine-day stretch in late 2018 and early 2019.

Netflix Stock Performance

The stock is also trading at all-time-high levels since it went public in May 2002. Netflix sto

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