With more than $673 million in taxable sales in May, 2022 year-to-date taxable sales reached $3.3 billion, LEDA reports.
Year-to-date sales were 8.36% higher than 2021 and 36.48% higher than 2020—when many businesses had limited operations due to the COVID-19 pandemic. May 2022 sales are the sixth highest on record for any month and the highest May on record.
“While some retail spending categories are down, taxable sales remain steady even with inflation beginning to affect local consumer spending decisions,” says Mandi Mitchell, President and CEO of the Lafayette Economic Development authority. “We know local consumers are feeling the pinch of higher gas and food prices; and we hope federal economic leaders are successful in getting inflation under control in the near term. While we understand and expect local shoppers to hold off on some purchases, we do encourage everyone to be intentional in choosing, when possible, to shop local so that our efforts collectively will continue to elevate Lafayette’s economy.”
Year-to-date taxable sales are up in Lafayette (7.92%), Broussard (23.49%), Duson (11.70%), Scott (8.42%), and Youngsville (15.67%). Sales are also up in unincorporated areas of the parish at 8.01%.
Sales are down 14.78% in Carencro— it is important to note the decline in Carencro can be attributed to the completion of the Amazon facility in 2021, and the loss of those construction dollars, and the overall leveling off of sales post-pandemic. Year-to-date sales in Carencro are 33.7% higher than this time in 2019, the year prior to the pandemic.
Sales tax collection numbers are gathered by the Lafayette Parish School System.