Alabama more than doubled its projected sales growth for the 2014 holiday buying season, thanks to record sales in December.
Taxed holiday sales in our state exceeded $10 billion in November and December, a jump of 5 percent over 2013 holiday sales. The Alabama Retail Association had predicted only a 2 percent growth in holiday sales based on the sales performance during the rest of 2014.
According to the National Retail Federation, holiday sales nationwide grew 4 percent. Alabama surpassed the national growth rate with its 5 percent increase in holiday sales in 2014.
In Alabama, an estimated $508 million more was spent during the 2014 holiday season than in 2013 and $17 million more in state sales taxes were collected compared with the same two months (November and December) in the previous year.
A stronger than expected December accounted for the enhanced growth. Alabama had its best December and best month on record in terms of sales taxes collected. More than $191 million in sales taxes were collected in December, a 7.38 percent growth over December of 2013, according to the Alabama Department of Revenue’s January abstract. The January abstract represents December sales. The Alabama Department of Revenue puts December sales in Alabama at $5.3 billion, an exceptionally strong end of the year for retail sales.
The Revenue Department’s sales tax numbers include taxes collected on manufacturing and farming machinery, automobiles, vending products and all other retail products that are taxed.
ABOUT ALABAMA RETAIL
The Alabama Retail Association represents 4,000 independent merchants and national companies that sell food, clothing, furniture and other general merchandise at more than 6,000 locations throughout Alabama. Since 1943, it has been the goal of the Alabama Retail Association to serve its members and promote what is best for the retailing industry in the state of Alabama.
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