Five sectors faring well
Which retail segments have held up best in the area during the recession?
Date published: 11/7/2009
By Bill Freehling
The period between the second quarters of 2006 and 2009 was not kind to area retailers.
Second-quarter taxable sales in Fredericksburg and in Stafford and Spotsylvania counties fell 12.2 percent this year compared with the three months ending June 30, 2006, according to data from the Virginia Department of Taxation. Second-quarter data are the latest available.
Fredericksburg retail sales were hit especially hard during that period, falling 25 percent as new shopping centers in Stafford and Spotsylvania siphoned off shoppers from Central Park.
Most retail segments fell in those three localities, though some were hit harder than others. Taxable sales of furniture and home furnishings dropped 53.2 percent, while sales of building materials declined 42.6 percent.
Despite the overall declines, some business segments held up well during the recession that gripped the area and nation during that three-year period.
Here are five areas that fared relatively well in Fredericksburg, Stafford and Spotsylvania between the second quarters of 2006 and 2009. The full data are at fredericksburg.com/blogs/bizbrowser.
--Bill Freehling
Sales at electronics and appliance stores rose 37.7 percent. Some of the increase was likely due to new stores opening in Stafford and Spotsylvania, because that is where the gains were. Yet it also shows that people weren't willing to give up their favorite gadgets in the face of recession. |
Sales at food and beverage stores jumped 27.9 percent, showing that hunger and thirst don't diminish as the economy weakens. This segment may have benefited from some people's decision to eat in more often. |
Sales at food-service and drinking places rose 23.5 percent, showing that people still love going out and having a good time even when (or because) times are tough. Sales were up in this category in each of the three area localities. |
Sales at stores selling sporting goods and catering to other leisure activities rose 7.2 percent. This category is listed as "Sporting Goods, Hobby, Book and Music Stores." It includes needlework, musical instruments and books. This may be an indication that people were paying for home-based entertainment rather than pricier outings. |
Sales fell just 2 percent at establishments providing accommodations, such as hotels, motels and bed-and-breakfasts. Numerous new offerings in this category opened between 2006 and 2009 in the Fredericksburg area, and the businesses benefit from a constant stream of travelers on Interstate 95. |
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Date published: 11/7/2009
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