Taxable Retail Sales Continue to Rise in Lafayette Parish
The obstacles faced by businesses in Louisiana have been tremendous in the last two years. Being a business owner can be both exhilarating and exhausting as you navigate the world of supply and demand, customers, regulations, and the ongoing impact of the Covid shutdown that was eventually lifted.
Sadly, many businesses were not able to end up on the positive end after Covid hit. Other businesses were and do continue to flourish. March 2022 retail sales figures from the Lafayette Economic Development Authority's report show that things are continuing to move in a positive direction for Lafayette Parish.
Retail sales figures, thankfully, continue to go up.
When you look at the figures, there is no surprise that March's numbers are 29.90% more than March of 2020. So many businesses had no chance of making ends meet.
A comparison of this month versus March 2021 shows nice growth from year-to-year. March 2022 taxable retail sales figures show this month increased 9.12% over 2021.
LEDA Executive Director Mandi Mitchell says this month's sales are the second-highest ever on record. In addition, March 2022 figures are the highest March figures on record.
All municipalities in Lafayette Parish showed increases in retail sales figures. They are as follows:
- Broussard figures rose 21.82% year-to-year
- Duson figures rose 22.97% year-to-year
- Scott figures rose 11.70% year-to-year
- Youngsville figures rose 16.40% year-to-year
Mitchell had the following to say about the numbers,
Sales continued to break records in the first quarter of 2022; however, as summer approaches, the Fed is making moves to fight inflation which may temper consumer spending in the coming months. I am confident businesses in Lafayette Parish will remain successful, even if sales slow due to Fed intervention.
March 2022 taxable sales for March were $715 million for Lafayette Parish.