South Florida Retail Report

RETAIL SALES

Total retail sales rebounded in 2021 even though employment was not expected to recover until the end of 2023. South Florida retail sales were expected to see an increase over $40 billion, up 20.4%, by the end of 2021 compared to year-end 2020. The Retail and Leisure/Hospitality industry sectors will take time to recover from heavy losses in 2020. Only half of those jobs have come back. There is room for improvement as employment in both sectors was expected to reach pre pandemic levels by 2023. The rise of the Delta Covid variant at the end of the summer and the lack of a pick up in business travel are not expected to dampen consumer demand much in South Florida. As tourism and travel opens up more next year, the regions recovery will continue to outpace most of the rest of the country.

South Florida Total Retail Sales

South Florida retail sales in 2021 were expected to reach over $173 billion , a 22.5% increase compared to the pre-pandemic level in 2019.

South Florida Industry Employment

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