While, more than 9,300 stores closed, nationally, in 2019 and bankruptcies in the retail sector intensified, that's not been case here in New Orleans. In fact, retail in the metro area is quite strong.
Local retail analyst, Wade Ragas says, unlike most metro areas in the country, this area has seen continued growth. "At this point in time, the New Orleans area and southeast Louisiana is doing quite well."
He says the area has had lots of job growth over the last couple of years so, "It is bucking the national trend and it has been for some time, because it has had lots of job growth over the last couple of years," Ragas says.
And, because of Katrina, he says a lot of our local stock had to be replaced. So, our retail facilities tend to quite modern, making them more competitive with the new electronic technology.