The Yelm Economic Summit yesterday was a wonderful to gather input from the public on a whole host of ideas, yet did not focus on the key economic issue Yelm faces now and in the next 5 years: e-commerce affecting retail sales-tax revenue. The revenue decline is caused by the changing landscape of how the public purchases products and services. Today’s news is an example of how e-commerce is affecting a city’s sales tax base:
“Amazon buying Whole Foods for $13.7 billion”
“Amazon said Friday [June 16] it has agreed to buy Whole Foods Market for $13.7 billion, a stunning move to boost its grocery business even as the brick-and-mortar retail sector continues to sink under the weight of e-commerce,” by Roger Yu , Zlati Meyer and Elizabeth Weise, USA TODAY, KING.
– This blogger covered Yelm’s e-commerce issue on June 10, 2017:
– Editor’s Note:
The time where Yelm relied primarily on brick and mortar retail stores for sales tax revenue is rapidly coming to an end. Yelm officials also need to be aware of the changing retail landscape and develop alternatives. Amazon, Google, Wal-Mart and others are rolling-out new delivery options more convenient than retail shopping experiences in big box stores or a vehicle-choked downtown. Attracting visitors here for unique dining experiences and events, like the upcoming Jazz Festival and UFO Symposium, are an excellent beginning for our future.