Pandemic Has Cost Colorado Communities $1 Billion In Retail Sales
The pandemic’s downward pull on consumer spending in Colorado is undeniable, but so far declines in retail sales are lower than forecast in many places, with the brunt of losses concentrated in communities dependent on outside spending. Colorado municipalities captured $1 billion fewer retail sales between January and May of this year compared to last year, which works out to a 2% drop, according to net taxable retail sales numbers reported to the Colorado Department of Revenue and compiled by the Colorado News Collaborative. But what that number doesn’t show is that for every city or town in the state that had a decline in retail sales, another two showed gains, according to the state numbers. That same ratio applies to county-level retail sales, which were up in 44 counties and down in 20. Read more at Denver Post.
