Retrospective voting is the practice where voters assess incumbents based on their past performance in office. This approach can significantly impact election outcomes, as electorates may reward or punish politicians for their achievements or failures. When citizens feel that the economy, public safety, or social issues have improved or declined, they may use these perceptions as a basis for their vote. Thus, retrospective voting reflects the electorate's sentiment on previous governance, making it a key factor in determining political success or failure.