Sales taxes at consumer-oriented shops were $13.1 billion in the fourth quarter – up a sub-par 1% from a year earlier.
It wasn’t a very happy holiday season for California’s shoppers.
Consumer-oriented sales taxes added up to $13.1 billion in the fourth quarter – up a sub-par 1% from a year earlier. That equals the 1% growth pace of 2022’s third quarter. Also, the return of everyday life to a somewhat “new normal” – post Covid 19 – certainly alters spending habits. Those “nonstore retailers” collected $1.45 billion in sales taxes in the fourth quarter, up 7% for the year. Meanwhile, “general merchandise stores” – mainly old-school department stores and warehouse clubs – took in $1.25 billion, a 4% drop in a year.Stores selling sporting goods, musical instruments and books dropped 7% to $244 million. Perhaps there’s less time for play as life returns to a pre-pandemic pace.
Clothing stores were flat at $1.1 billion. The pandemic life gyrations – where you worked or schooled – has run its course for apparel.
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