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A small business in full bloom

A small business in full bloom

By Brittney Sherman

Jerry Ayala, owner of the Flower Cottage located on First St in Downtown Morgan Hill, is preparing for one of his store’s strongest days of the year- Valentine’s Day. After owning the store for 10 years, Jerry has found long stem roses, chocolates, and teddy bears to be the top sellers.

“In 2024, consumers are projected to spend approximately $25.8 billion on Valentine’s Day purchases,” reported the National Retail Federation. Top gifts include jewelry, an “evening out,” clothes, and flowers.

Read the full Morgan Hill Times Article HERE.

 
Morgan Hill generates 2% sales tax growth in Q3

Morgan Hill generates 2% sales tax growth in Q3

By Brittney Sherman

Morgan Hill’s 3rd quarter 2023 sales tax results showed 2% growth, while the Bay Area and California were down 3% and 1.6% respectively. Morgan HIll’s major contributors were from the Auto/Transportation, Food/Drug, Building/Construction and Business/Industry sectors. The City’s top 25 sales tax producing businesses grew a collective 17%, accounting for approximately 61% of all sales tax revenue generated into the General Fund.

Read the 2-page shareable report HERE.

 
California's budget shortfall

California's budget shortfall

By Brittney Sherman

Governor Newsom announced a $37.9 billion deficit to California’s 2024/25 fiscal year budget. Newsom proposed to cover approximately 50% of the gap with reserve funding and another 33% by cutting planned spending in various sectors. High interest rates, reduced home sales, decreased start-up business investment, and the delay in the state income tax filing deadline have all been listed as contributing factors.

Read the full article in the Morgan Hill Times HERE.

 
Leading the retail expansion race

Leading the retail expansion race

By Brittney Sherman

Even in the midst of inflation, supply chain, and post-pandemic recovery challenges, several retail brands aggressively expanded in 2023. A recent article in Footwear News identified these sporting goods, discount, and retail chains as the front runners for expansion in 2024:

Academy Sport + Outdoors

BootBarn

Dick’s Sporting Goods

Dollar General

Five Below

Macy’s

Nordstrom Rack

REI

Rothy’s

Uniqlo

Read the full article HERE.

 
Top travel destination influencers for 2024

Top travel destination influencers for 2024

By Brittney Sherman

Travel trends in 2024 are expected to be largely influenced by TV and movie set, and concert locations. “Destination dupes,” lower-cost alternative destinations offering a similar climate and experience to a more popular location, and alcohol-free travel experiences are also leading travel trends this year. Whether you're a Swiftee attending the Eras Tour, a budget-conscious traveler choosing the Canadian Rockies over the Swiss Alps, or observing “dry-January” there’s a destination in store for you in 2024.

Read the full CoStar article HERE.

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