With more than $577 million in sales in December 2018 taxable sales reached $6.0 billion- the second highest on record. The previous retail sales record was set in 2014 when sales topped $6.4 billion. Sales ended the year up 4.0% from 2017 and up 4.7% from 2016. The past eleven months have seen over-the-year increases.
“Holiday shopping met LEDA’s forecast of $1 billion which is an encouraging sign for continued upward momentum. Taxable sales have rebounded from the decline that began in 2015,” says Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority.
Total taxable sales ended up in all municipalities compared to 2017- Lafayette (1.1%) Broussard (13.25%), Carencro (8.0%), Duson (25.8%), Scott (17.0%), Youngsville (18.4%) and unincorporated areas of the parish (4.4%).
Within the City of Lafayette, year-end sales were up in the food, auto, furniture, and miscellaneous/other categories- ranging from 6.8% to 0.9% Apparel, general merchandise, building materials, and services were down- ranging from 0.4% to 3.9%
“As we start a new year, it’s important to remember that shopping in local stores keeps sales tax revenue in our community to support schools, jobs, roads and safety. Strong retail and service industries have played a key role in stabilizing Lafayette’s economy the past four years,” says Gothreaux.
Sales tax collection numbers are gathered by the Lafayette Parish School System.