The Economic Impact of Holiday Shopping on the State’s RevenueBy Lawayne Childrey | Published 23 Nov 2010 10:14am |
Experts are predicting a banner Christmas shopping season in Mississippi--- that could generate millions of dollars for the state's general fund. MPB's Lawayne Childrey reports.
There is an air of excitement At Monkey Charms Boutique in Flowood, While Black Friday has long been recognized as the day big box retailers do the bulk of their yearly sales, Monkey Charms manager Heather May, says locally owned stores are also starting to feel the excitement.
"We don't open as early as they do because you know we're not gonna compete with big TV's and things like that that go on sale at 4 and 5am in the morning. And we found that about lunch time is when it really hits for us and we're just going until the end of the day."
After a year of holding back Jennifer Macaw of Vicksburg says she's now ready to start spending again but cautiously.
"I guess like always looking to get more for as little as you can get it for but ah, I think there's a little more money to be had this year. Last year I just, I mean it just felt like things were really tighter last year and ah I don't know I just feel a little more in the economy than I did last year."
While stores depend on holiday shoppers to help make their yearly estimates. State Economist Darrin Webb believes this year they may just get their wish.
"I say that because I do think that the economy is recovering it’s just not recovering as strong as we'd like. And also the consumer is still very, very cautious so I don't think were gonna see the kind of growth that we saw before the recession begin but we'll see some slightly up tick from last year would be my guess.”
Mississippi relies heavily on sales tax revenue and Webb believes this shopping season could be a significant boost to the state’s general fund. Lawayne Childrey, MPB News.
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