Let's Talk Business: A Look at the Retail Landscape in Cape County

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This is a perfect time of the year to talk about one our most important business sectors. The retail landscape is changing dramatically. According to the U.S. Census Bureau, more than 10% of all retail sales dollars now occur online and that number has grown from 4% in 2010. In certain product categories, that number is much higher. A recent Fortune Magazine survey revealed 51% of consumer goods shoppers now make their purchases online. The numbers are substantially lower for major ticket items and food, but there is no denying online sales are having a major impact in the retail sector. Let’s look at some of our retail numbers. Cape Girardeau County experiences approximately $1.5 Billion dollars annually in taxable retail sales. Cape County is #2 out of 114 counties in Missouri for a retail pull factor which is a measure of retail sales per capita. And 17% of the county workforce is in retail compared to a state average of 13%. Certainly we are a retail hub. However, the largest parts

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