Fort Lauderdale Retail Market Report
Retailers benefit from influx of new residents. Although Broward County trails much of the state in the economic recovery, the increase in new residents has supported the local retail market. Total retail sales increased 23.1 percent year over year in the second quarter, largely supported by a rise of more than 14,000 households over the last 12 months. As more people make the Fort Lauderdale metro their permanent residence, including remote workers and retirees, consumer spending in the county should stay strong. Furthermore, the upside potential is elevated and will be realized as the employment market returns to pre-recession levels over the next 24 months. Retailers will increasingly opt to expand operations in the county as the confluence of economic and population growth provides an attractive destination.