"I don't have anybody coming in here crying, which is about the only way we can gauge it," jokes South College Center co-owner Landry, who has 21 tenants in his shopping complex at the corner of Johnston Street and South College Road. "We have no whiners and no complainers," he says.
Landry's center is perhaps the best example of a cross-section of retail and service outlets in Lafayette. It's a healthy mix of long-established shops, fresh faces and one brand new spot, a pet grooming center and boutique called Spoiled, which is tentatively scheduled to open in March. And all jokes aside, Landry keeps his finger on the pulse of their activity, which is why news that Lafayette Parish has broken yet another record for retail sales ' the total amount spent by consumers on goods and services ranging from clothing and groceries to utilities ' didn't come as a surprise to him.
Landry says his tenants are thriving. Cell phone company Nextel had one of its biggest months ever this past January; Acadian Religious celebrated a banner weekend recently; True Value/Medallion Hardware is benefiting from the boom in upscale home construction; and Musso Shoe Repair's employees are bumping elbows with each other to meet the demand for their services. "They can't keep up with the need. He does a tremendous business," Landry says. Landry and his brother, David, also own the UPS store in the center, which experienced a 15 percent increase in volume in 2004 ' its best yet.
The most obvious sign that business is abuzz in the center is the success of Southside Bakery. After opening in mid-2003, it recently renovated its corner space to expand the bakery's offerings.
Retail sales in South College Center and throughout the parish were strong last year, especially in December, when they rose to $410 million, a 6.5 percent increase over sales in December 2003. For the year, taxable sales increased 3.6 percent over 2003, rising to $3.85 billion. The increase from 2002 to 2003, a record $3.72 billion at the time, was 2.7 percent.
Though a rise in retail sales reflects an increase in spending, it certainly does not indicate that retailers across the board ' some of which are struggling in the face of new competition ' are in a better position than they were a year ago. The utilities group accounted for the biggest increase at 65 percent; furniture and home furnishings, 18 percent; lumber and building materials, 7.9 percent; and auto, 6.3 percent. Decreases came only in apparel and miscellaneous services, which includes hotels, bowling alleys and dry cleaners.
Economists caution that price increases must be factored into retail sales tallies before determining if there's been real growth. The level of increase in Lafayette Parish, however, is typically a positive indication, says Dr. Paula Carson, associate dean of UL Lafayette's B.I. Moody III College of Business Administration. "Even if you can chip away [at the 3.6 percent increase], I think there will be residual growth that you can see."
From 2003 to 2004, the Consumer Price Index, which reflects changes in prices paid by consumers for a typical basket of goods and services, increased 1.8 percent. Accounting for that increase, the uptick in local sales would be 1.8 percent, but the parish's chief economic development official insists the local tax base is growing at a higher rate. (End of year figures for the nation were not available at press time.)
"We've had significant job growth, that could be a factor," says Gregg Gothreaux, head of the Lafayette Economic Development Authority. He also points to the impact of new tourism dollars, a sector that picked up in 2004 for the first time since Sept. 11, 2001.
Additionally, Gothreaux maintains that per capita income in Lafayette Parish is increasing faster than the national average, rising 58.6 percent from 1993 to 2002, the most recent period for which tracking is available. Despite that growth, the portion of total income spent on retail goods in Lafayette Parish has remained stable at 63 percent, he says. "More dollars were spent without an increase in [percentage] spending per person," says Gothreaux.
Economist Carson agrees that Lafayette is selling much more than consumer products, which is why it's able to draw in many dollars. "I think the Lafayette area is doing a much greater job in terms of diversity," she says. The city's growing variety of products and entertainment venues is drawing shoppers from outlying areas like Abbeville, New Iberia, Opelousas and Rayne. She says consumers from these areas shop the Mall of Acadiana, for example, and stay in town for a movie and dining. "It's an event, as opposed to a chore."
What's disturbing about the trend, Carson cautions, is the impact it has on the economies of the smaller municipalities. She says Lafayette is growing at the expense of outlying communities, and she doesn't see that changing ' despite passionate efforts by the leadership of those cities to keep locals from leaving. "It's like a train; it's hard to stop the train," she says.
Both Gothreaux and Carson say there may be more reason for shoppers to head to the Hub City. The food group expanded with new restaurants last year, but it held steady in terms of the percentage of retail sales it generates, accounting for about 17.5 percent of the total sales in 2004. With more on the way ' Bonefish Grill in River Ranch, Doe's Eat Place on Pinhook Road and Monitos' Tapas Bar & Restaurant downtown ' Gothreaux says the new establishments will in part redistribute some of the business. With all of the new restaurants introduced in the past year, this group ' which includes grocery stores and bakeries ' failed to show any significant growth in 2004. The largest group is general merchandise ' department, drug, hardware and sporting goods stores ' which accounts for 26.5 percent of all sales, followed by the food and auto group ' automobile dealers, service stations and boat dealers.
The future of local retail sales, hampered by the popularity of Internet commerce in the past few years, is more promising now, says Carson, who sees the novelty of purchasing online wearing off. "People are going back to traditional bricks and mortar," she says. Carson notes that people are fearful of identity theft and sharing credit card information, and want immediate gratification. "If you need a new pair of shoes for tonight, you're going to the mall," she says.
The parish shows a remarkable consistent pattern of retail growth. Sales rose steadily from 1995 to 1998, dipped in 1999 and began a solid climb, with the exception of a small .4 percent hiccup from 2001 to 2002.
Some of Landry's tenants, namely Garland's Salon, Buttross Jewelers and Ricky Smith Audio, have been around long enough to experience the biggest years in the parish's retail history, like the 40 percent swell in taxable sales from 1981 to 1982. Sales skyrocketed from $1.5 billion to $2.1 billion, dropping a year later to $1.75 billion due to a downturn in the oil industry.
Landry hopes that rollercoaster has come to a halt, explaining that South College Center's tenants, overwhelmingly homegrown businesses, can make better strategic moves and buying decisions when the economy is stable. "If they can get a little bit of growth every year, they're happier with that than with this big up and down stuff," Landry says.
Black Friday shopping begins; Pope visiting Turkey; oil prices decline and more national and international news for Friday, November 28, 2014.
Friday's Blogs from the Bog!
The fight to clean up Lafayette Parish could get some added ammunition with two ordinances up for votes Tuesday by the City-Parish Council targeting litter-bugs.
By striking a deal to lessen the blow of health insurance changes on state workers, school employees and retirees, Gov. Bobby Jindal's administration lowered the volume of criticism but gave itself and local school boards a new budget headache.
With the airport tax coming up for a parishwide vote in about a week, the Broussard City Council and its mayor have come out in support of the proposal.
Protesters rallied peacefully in several Louisiana cities in the wake of the Missouri grand jury decision not to indict a police officer in the fatal shooting of Michal Brown.
The U.S. rep billed LSU for work allegedly performed on the same days Congress voted on major legislation and held important committee hearings on energy and the ACA.
Abysmally low participation by the public has prompted the council to scuttle the 2014 survey with plans to simplify it and try again next year.
The village now says the ordinance will likely be overturned and authorities will more vigorously enforce existing leash laws.
Bill Cassidy cast an early ballot Tuesday, seeking to draw renewed attention to a race that has fallen off newspaper front pages and away from people's minds as they plan holiday meals and shopping schedules.
Battered all night by Baltimore's relentless pass rush, Drew Brees could feel his protection collapsing and Terrell Suggs getting ahold of him as he urgently unloaded a pass to the right flat toward tight end Jimmy Graham.
After a convincing defeat at the polls on Nov. 4, Earl “Nickey” Picard has decided to let bygones be bygones with his former right-hand man Brian Pope, announcing his support for his former employee’s runoff bid to become Lafayette’s next city marshal.
Saturday the athletic department did everything possible to ensure the 2014 Ragin’ Cajun seniors remembered fondly their last home game. Rain and lightning never arrived but turbulence did in the form of the Appalachian State Mountaineers.
Even stranger than the Republican Party’s decision to hold a “unity rally” earlier this month for Congressman Bill Cassidy in a Baton Rouge bar, Huey’s Bar, was the fact that the establishment was named after Louisiana’s most famous Democrat.
Bar Code is not a gay bar.
After failing to pass a medical marijuana bill last year, state Sen. Fred Mills, R-Parks, is telling supporters he will return in 2015 with legislation that focuses on different applications like oils and pills.
Voters, obviously, are not yet tuned into the 2015 ballot, despite the intriguing races it will host.
By now, the story of how longtime LSU coach Dale Brown discovered Shaquille O'Neal has been told many times: Brown happened upon a massive 13-year-old at an army base in Germany, stayed in touch with him and eventually became like a second father.
Fate simply wasn't ready to give the New Orleans Saints a break from longtime nemesis Steve Smith.
Lafayette Police have had a busy day.
Gov. Bobby Jindal's administration will use $130 million in patchwork financing from a tax amnesty program, insurance settlement, uninsured motorist penalties and other excess funds to close most of the state's midyear budget deficit.
Democratic U.S. Sen. Mary Landrieu said she disagrees with President Barack Obama's actions on immigration, hoping the latest controversy doesn't worsen her campaign difficulties.
Gay-rights advocates challenging Louisiana's same-sex marriage ban announced Thursday that they have asked the U.S. Supreme Court to review their case before it is heard by a federal appeals court.
Thinking himself the “son of God,” the man charged with the 2013 killing of an officer of the Chitimacha Tribal Police will not stand trial following a ruling Thursday on his mental competency.
Either Saints coach Sean Payton doesn't want to tip Baltimore off as to who'll start in New Orleans' secondary on Monday night, or he really doesn't know yet.