Local retailers think more periods of sales tax hiatus will lure shoppers to stores
The National Retail Federation projects annual retail sales will decline 0.5 percent from last year. That has Manatee County’s major retailers asking for a series of sales tax holidays as a way to boost consumer spending.
The National Retail Federation in December asked President Barack Obama for three, 10-day national sales tax holidays this year as part of a retail stimulus plan.
Manatee County retail officials say the proposal, which must Obama may review in February, would bring a much-needed boost to sales as occurred during past tax-free holidays in Florida.
While local retailers wouldn’t disclose details of sales performances reports during tax-free holidays, the National Retail Federation says retailers typically see spending increase by an average of 35 to 45 percent.
“Sales tax holidays really bring a great boost to spending,” said Rachelle Bernstien, vice president of the National Retail Federation.
Steve Knopik, chief executive officer of Bealls, agrees.
“In the past, sales tax holidays have proven to be events that the customer understands and responds to more energetically than they do to promotions that provide similar percent off discounts,” Knopik said. “Bealls likes the idea of sales tax holidays and/or any other activities that would stimulate consumer spending.”
The National Retail Federation asked that the sales holidays occur for 10 days each in March, July and October.
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