Many states are offering a sales tax holiday. This is retail marketing at its finest. Forget Black Friday and Cyber Monday. In Virginia for example, look at how this tax-free weekend fell: First of the month. Not to be judgmental and ugly, but the first of the month for retail is usually a nightmare. Most of those who receive governmental assistance receive funds at the beginning of the month. Virginia had its sales tax holiday the first of the month. Stores marketed the daylights out of this and each tried to beat the other with sales and coupons. Bargain shopper heaven. Heck yeah, I was out there! I saved $54 on a blouse, a dress, and a skort. (For the record, the skort was for my three year old daughter who starts Pre-K this year). In true diva fashion, I totally spent the savings on earrings. Economic gain!
Consumer confidence is up. The Dow - indicator of all things (note sarcasm)- is up. Business confidence is still struggling, but improving. Sales tax holidays help drive business confidence. It brings consumers out to shop and is viewed as a goodwill gesture from the state. At least, from a small business owner perspective, that is how I view it. The stores were packed with people. Not Black Friday packed (I will never do that again), but very busy. I loved seeing the local economy being stimulated like this. When we shop in our communities, we put money back in our community in the form of wages paid to the workers who in-turn spend that money in our community and the cycle continues. When we put the money into our community, our community grows, people stay, and more opportunities appear.
