Small retailers across the country could begin to see heightened sales levels, with consumer confidence remaining high in July.
Should sales increase, stores will likely see more foot traffic, potentially leading to a greater risk that a fall could occur causing an injury and lawsuit. That said, owners of these companies should ensure their liability insurance policies are adequate in preparation for more customers.
The Thomson Reuters/University of Michigan preliminary reading on the overall index of consumer sentiment dropped slightly to 83.9 in July, from 84.1 in the previous month.
“It’s a slip in confidence from recent highs rather than the start of a new downward,” Gennadiy Goldberg, strategist at TD Securities Inc, told Bloomberg. “As we get later in the year and the economy improves, consumers will start to see better numbers and they’ll notice that.”
Another measure of confidence showed consumers feel good about the economy, as the Bloomberg Consumer Comfort Index hit the highest level in more than five years during the week ending July 7 when it climbed to minus-27.3 from minus-27.5.