According to the state’s monthly taxes report released this week, hotels and cabins saw a 21 % decline in sales volume in September, and Aspen saw an overall financial performance that was nearly identical to that of the first nine months of 2022.
According to the report, Aspen’s financial sector, which drew$ 103. 6 million in September 2022, saw September sales total$ 97.1 million. That represents a 6 % decline.
The marijuana industry, which saw$ 646, 372 sales, down from$ 881, 146 in September 2022, took the brunt of the wind with a 27 % decline in sales.
The larger-dollar industries also suffered: food and drug was down 10 %, from$ 7.2 million to$ 6.5 million, fashion/clothing decreased by 9 % ( from$ 13.1 billion to$ 11.9 million ), and construction fell by 6 percent, falling from$ 10.9 million and$ 10.3 million.
Sales of lodging increased from$ 27.6 million in September 2022 to$ 21. 9 million last September.
Only three of the 14 retail sectors experienced growth in September compared to September 2022: utilities, which increased by 8 % from$ 3.1 million to$ 3.4 million, and the automotive industry, whose growth rate was 4 %, increasing by$ 2.7 million and$ 2.9 million.
The jewelry/gallery industry saw sales nearly double from$ 4 million in September 2022 to$ 7.7 million last September, making it the report’s brightest area. That represents a 92 % increase.
According to the report, Aspen stores reported$ 942.5 million in total sales for the year as of September, which is close to matching the$ 940 million generated during the first nine months of 2022.
Sales of lodging, which make up the majority of the city’s income tax series, decreased by 4 % from January to September, reaching$ 270.9 million, compared to$ 280.8 million during the same time last year.
The bloom for pot shops, which saw an 18 % decline in sales time to day compared to the same period in 2022, appears to be out of the flower. For Alpine shops, that is the highest rate of decline so far in 2023. According to the report, the cannabis trade grew by$ 7.8 million through September of last year and$ 6.4 million this year.
The restaurant industry, Aspen’s second-largest retail producer, is also doing well, with sales of$ 154 million in September and$ 162.4 million so far, respectively, up 2 % and 4 % from the same times in 2022.