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Mercer Island retail sales jump in 2011

It is good news. Retail sales figures for the Island improved significantly in 2011 over 2010.

Retail trade or ‘retailing’ is a component of all taxable retail sales that includes retailers but excludes other industries.

Taxable ‘retailing’ sales on the Island jumped over seven percent in 2011 versus 2010 — versus a change of just under 3 percent for all taxable retail sales. Total taxable retail sales for the city were $282 million in 2010 versus $290 million in 2011

Statewide, taxable retail sales increased 3 percent to $103.8 billion in calendar year 2011 over 2010, the Washington State Department of Revenue reported on Friday. Taxable ‘retailing’ sales increased 3.5 percent over 2010 to $47.9 billion.

The  statewide gain for 2011 compares to a 0.1 percent drop in overall sales in 2010 and an 11.2 percent drop in 2009.

Among major industries, construction was down 1.7 percent but still much better than the 12 percent decline in 2010. New and used auto sales were up 8.3 percent compared to a 2.8 percent gain in 2010.

Accommodations and food services rose 5.1 percent, apparel and accessories increased 5.5 percent, and sales of building materials, garden equipment and supplies declined 0.3 percent.

For the state as a whole, taxable retail sales were up 3 percent with ‘retailing’ sales up just over that at 3.5 percent.

In King County the taxable retail sales was up 4.2 percent with ‘retailing’ up slightly more at 4.6 percent.

There are changes ahead for 2012 and beyond.

It has not been estimated how much I-1183 and the closing of the Washington State Liquor Control Board stores will affect retail sales as other retail and outlet stores pick up the business.

 

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