Ron Strider
Well-Known Member
There may be a retail apocalypse going on, but you wouldn't know it from Washington state's retail sales in 2016.
Taxable sales from retailers in this state increased 6 percent to $63.2 billion in 2016, according to the state Department of Revenue.
And the type of store that grew sales the most last year? Drug and health stores – due, undoubtedly, to the growth in retail pot shops.
Drug and health stores overall had $2.63 billion in taxable sales last year, up 17 percent from a year ago. Marijuana sales made up about 27 percent of that. At $697 million, that was up 83 percent since 2015, according to the Revenue Department.
E-commerce and mail order sales, as expected, went up – by almost 12 percent. That figure is likely an understatement, though, given that it includes only sales subject to state tax, and may not include online sales made by businesses with bricks-and-mortar stores.
Department store sales did not go into freefall, although their total did slip about half a percent.
Among the best-performing retailers were auto, RV, boat and motorcycle dealers; lawn and garden supply stores; and general merchandise stores.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Pot sales one of brightest spots in state’s retail sector, tax data shows | The Seattle Times
Author: Janet I. Tu
Contact: Contact | The Seattle Times
Photo Credit: Jordan Stead
Website: The Seattle Times | Local news, sports, business, politics, entertainment, travel, restaurants and opinion for Seattle and the Pacific Northwest.
Taxable sales from retailers in this state increased 6 percent to $63.2 billion in 2016, according to the state Department of Revenue.
And the type of store that grew sales the most last year? Drug and health stores – due, undoubtedly, to the growth in retail pot shops.
Drug and health stores overall had $2.63 billion in taxable sales last year, up 17 percent from a year ago. Marijuana sales made up about 27 percent of that. At $697 million, that was up 83 percent since 2015, according to the Revenue Department.
E-commerce and mail order sales, as expected, went up – by almost 12 percent. That figure is likely an understatement, though, given that it includes only sales subject to state tax, and may not include online sales made by businesses with bricks-and-mortar stores.
Department store sales did not go into freefall, although their total did slip about half a percent.
Among the best-performing retailers were auto, RV, boat and motorcycle dealers; lawn and garden supply stores; and general merchandise stores.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Pot sales one of brightest spots in state’s retail sector, tax data shows | The Seattle Times
Author: Janet I. Tu
Contact: Contact | The Seattle Times
Photo Credit: Jordan Stead
Website: The Seattle Times | Local news, sports, business, politics, entertainment, travel, restaurants and opinion for Seattle and the Pacific Northwest.
