Lincoln Road Outdoor Retail Mall, Miami Beach, FL – Photo: Kamira/Shutterstock.com
It’s likely that whoever declared that money cannot buy happiness hasn’t done their research. Because they believe that experiences are what really matter, StorageCafe set out to find the best locations for the retail therapy we all so well deserve.
According to research, Miami has become the best place to shop overall, providing us all with the greatest in retail therapy. Florida is unique in that it is the only state to have two entries in the top ten.
Competitive pricing and a wide selection are not the only factors that determine a city’s best shopping experience. It’s also about its spending power, the vibrant environment, the availability of store staff to improve the shopping experience, and more. All of these components work together to create a memorable experience.
Key conclusions concerning South Florida drawn from the study:
The greatest haven for shoppers: Of all the metro areas that were examined, Metro Miami has the most retail establishments per 1,000 population, with a total of 8,891 outlets. These represent 1.4 stores for every 1,000 people and range from upmarket malls to sustainable fashion boutiques and modern art galleries. The Miami metro area has a total gross leasable area of approximately 326 million square feet.
The retail scene is dominated by fashion, with about 4,000 outlets selling only apparel and accessories. With over 1,150 establishments of this type, furniture and home goods make up the second most popular category among local buyers. 800 retail outlets selling food, toys, and musical instruments are next, followed by about 740 bookshops.
Employee density: With a workforce of more than 120,000, the retail scene is bolstered by a healthy ratio of 19.6 employees per 1,000 population (ranked second among the top 20 metro areas in this metric).
Expenses associated with shopping: The balance is kept at a respectable level. The average annual amount that residents spend on retail is about $7,600. This represents roughly 10.7% of the household income in the area, which is significantly less than the roughly 13% national average.
Please refer to the entire research available here for a thorough analysis of the real numbers influencing the retail scene in the 20 largest American metropolises:
https://www.storagecafe.com/blog/top-us-shopping-hotspots/#retail-insights
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Born and raised in South Florida, Krystal is a recent graduate from the University of Miami with professional writing experience at the collegiate and national news outlet levels. She’s a foodie who loves all things travel, the beach, & visiting new places throughout Florida.