Richmond consumers are starting to spend a little bit more dough, especially at the grocery store.
Total taxable sales for Richmond, Henrico and Chesterfield combined reached $2.64 billion in the second quarter, an increase of 1.9 percent over the same period last year. That figure — which comes from recently released taxable sales data from the state — includes all receipts from retailers, manufactures and wholesalers in the area.
Although the percentage increase is less than inflation (3.6 percent), it is still an improvement over the past couple of years, when sales declined 9 percent each year.
When it comes to individual categories, Richmond’s grocery stores brought in 12.72 percent more sales in the second quarter than they did last year, with a total tally of $411.32 million. That’s partially because prices went up 5.4 percent from the same time last year.
Other categories increased sales slightly or remained even with last year. Specialty retailers such as sporting good stores and bookshops brought in $48.67 million, an increase of 2.46 percent.
Restaurants brought in $319.81 million in the second quarter, an increase of 3.35 percent.
General merchandise stores, such as Wal-Mart and Target, brought in $405.51 million, an increase of less than 1 percent. Sales by clothing retailers also grew by less than 1 percent, with $138.88 million in sales generated.
After bumping up sales during the first quarter by 12 percent, furniture sales declined during the second quarter by 6.89 percent with $57.7 million in sales.
This year is looking to be a good one for local retailers. The second quarter followed on the heels of an encouraging first quarter, which saw a 5.4 percent increase in total taxable sales.
Richmond consumers are starting to spend a little bit more dough, especially at the grocery store.
Total taxable sales for Richmond, Henrico and Chesterfield combined reached $2.64 billion in the second quarter, an increase of 1.9 percent over the same period last year. That figure — which comes from recently released taxable sales data from the state — includes all receipts from retailers, manufactures and wholesalers in the area.
Although the percentage increase is less than inflation (3.6 percent), it is still an improvement over the past couple of years, when sales declined 9 percent each year.
When it comes to individual categories, Richmond’s grocery stores brought in 12.72 percent more sales in the second quarter than they did last year, with a total tally of $411.32 million. That’s partially because prices went up 5.4 percent from the same time last year.
Other categories increased sales slightly or remained even with last year. Specialty retailers such as sporting good stores and bookshops brought in $48.67 million, an increase of 2.46 percent.
Restaurants brought in $319.81 million in the second quarter, an increase of 3.35 percent.
General merchandise stores, such as Wal-Mart and Target, brought in $405.51 million, an increase of less than 1 percent. Sales by clothing retailers also grew by less than 1 percent, with $138.88 million in sales generated.
After bumping up sales during the first quarter by 12 percent, furniture sales declined during the second quarter by 6.89 percent with $57.7 million in sales.
This year is looking to be a good one for local retailers. The second quarter followed on the heels of an encouraging first quarter, which saw a 5.4 percent increase in total taxable sales.