Lafayette

Feb 12, 2014 3:25 PM by LEDA PRESS RELEASE

2013: Retail Sales reach $6 billion- highest total on record

With sales of more than $596 million in December, 2013 total retail sales reached $6.02 billion- the highest year on record. December 2013 sales marked the fifth month of $500 million sales in 2013, the most ever in a single year.

"The 2013 holiday shopping season did not disappoint and total retail sales easily exceeded the $5.71 billion mark reached in 2012," says Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority. "Steady sales across all categories reflect the diversity and stability of the economy and the confidence of local consumers to invest in big ticket items."

As with retail sales, 2012 hotel/motel receipts outperformed 2012 totals. December hotel/motel receipts totaled $4.94 million, placing the 2013 total 4.5% higher than 2012.

"Hitting the $6 billion mark in retail sales is an important milestone for us," says Joey Durel, Lafayette City-Parish President. "More importantly, a 5% increase in sales in one year is a sign of the strong economy in our region. Lafayette continues to serve as a retail hub for our area, and we congratulate our local businesses for such a strong year."

Overall, miscellaneous/other, services, and auto are the best performing categories in 2013 with increases of , 16.2%, 10.8% and 8.2% respectively over 2012 numbers. All other categories showed increases over 2012, ranging from 4.9% to 2.1%.

"Record breaking year-end retail sales is another clear indicator that Lafayette continues to be a thriving and growing community," says Jason El Koubi, President and CEO of the Greater Lafayette Chamber of Commerce. "This boom in total annual retail sales is great news for our membership, which is strongly represented by retailers across Lafayette."

The previous retail sales record was set in 2012 when sales topped $5.7 billion. Retail sales numbers are provided by the Lafayette Parish School System.

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