Ready, Set, Spend!
 
Published Thursday, November 15, 2012
by Staff

Ask the Chamber's Research Department

Madeline CarylErin WatkinsAndrew Bowen

Pictured from left to right: Madeline Caryl, research associate; Erin Watkins, senior research director; Andrew Bowen, research director

 

Question:  

The Commerce Department released national retail sales numbers this week that showed a decline for the first time in four months. How does Mecklenburg County compare with the rest of the nation?

 Answer:

The most recent local figures show Mecklenburg County's retail sales are up 6.4 % year to date (through August 2012). If the trend continues, consumers will have spent $900 million more dollars in the county this year than last. What's more, it would be the third year of substantial increases in annual retail sales.

Retail Sales (per Calendar year)

2009-2010, + $1.2 billion (8%)

 2010-2011, + $1.0 billion (10%)

2011-2012, + $910 million (6.4%) (projection based on YTD increase)

That said, the N.C. Department of Revenue won't release the most current numbers until next week which could give us, and retailers, a better idea of how this holiday shopping season may fare.



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