{"id":14842,"date":"2020-08-31T20:25:32","date_gmt":"2020-08-31T20:25:32","guid":{"rendered":"https:\/\/www.regiontrack.com\/www\/?p=14842"},"modified":"2025-12-12T18:47:13","modified_gmt":"2025-12-12T18:47:13","slug":"ok-city-retail-trends-improve","status":"publish","type":"post","link":"https:\/\/www.regiontrack.com\/www\/ok-city-retail-trends-improve\/","title":{"rendered":"OK Municipal Retail Trends Improve Further"},"content":{"rendered":"\n

Retail sales across Oklahoma’s cities continue to improve<\/span><\/strong>.<\/p>\n

State sales subject to both sales and use tax are down only 5.4% year-to-date through July of 2020 vs. 2019. The gap relative to 2019 has narrowed steadily since April.<\/p>\n

July 2020 taxable sales are down only 0.9% compared to July of 2019.<\/p>\n

The map and data table below summarize combined sales subject to sales and use tax for all Oklahoma cities levying a sales or use tax in the year-to-date period through July of 2020 vs 2019.<\/p>\n

Some key points include:<\/p>\n

    \n
  1. OKC and Tulsa are showing resilience<\/span>. <\/strong>Both cities are still weak relative to the prior year, but taxable sales are down only only a little more than 3% in each.<\/li>\n
  2. OKC and Tulsa suburbs are generally stronger than the central cities<\/span><\/strong>. Most suburbs in both the OKC and Tulsa metro areas have managed to post a gain in taxable sales year-to-date.<\/li>\n
  3. Tulsa suburbs continue to far outpace the city of Tulsa<\/span><\/strong>. Nearly every suburb in the Tulsa region has managed to post a gain in taxable sales year-to-date.<\/li>\n
  4. The large suburbs in Tulsa are far outperforming the large suburbs in OKC<\/strong><\/span>.<\/li>\n
  5. More than two-thirds of Oklahoma cities have now posted gains<\/strong><\/span>. Currently, 352 out of 516 (68%) reporting cities have a gain in taxable sales year-to-date in 2020 versus 2019.<\/li>\n
  6. Several cities continue to face severe financial distress<\/span><\/strong>. 101 cities posted a loss of 10% or more year-to-date; 68 posted a loss of 20% or more; 38 posted a loss of 30% or more; 23 posted a loss of 40% or more.<\/li>\n
  7. Several oil and gas towns continue to experience severe weakness<\/strong><\/span>. For example, El Reno taxable sales are down 48% year-to-date. Hennessey taxable sales are down 23%. Cushing tax sales are down 17.0%. Kingfisher posted a 15.4% decline.<\/li>\n<\/ol>\n

    *** The map allows zooming and panning for better viewing<\/p>\n\n\n\n