- Red Wing’s taxable retail and service sales increased 11 percent between 2014 and 2017, reaching an estimated total of $210 million.
- Building material stores, which includes lumber yards, hardware stores, and home improvement centers, were the largest contributors of taxable sales in Red Wing's retail economy, accounting for nearly 21 percent (about $44.9 million) of the total.
- The general merchandise category was a close second with $42.3 million in sales, accounting for 20 percent of the total.
- The largest increase in dollar sales was in the business merchandise category of vehicles and parts, reaching an estimated total taxable sales of $27 million in 2017. The second largest increase was in the building materials category.
- General merchandise stores decreased their taxable sales between 2014 and 2017.
About this report
University of Minnesota Extension developed its retail trade analysis program to assist with the economic development of Minnesota communities. Reports are available for all Minnesota counties, for most cities with a population of more than 5,000, and for a few cities with a population fewer than 5,000. This report is also useful for identifying opportunities to provide new or expanded goods and services.
Red Wing and Goodhue County's retail sector can be evaluated by comparing its trends to those of similar jurisdictions. Some business categories such as vehicles and parts, building materials and eating and drinking establishments are bringing customers into the community to shop. Opportunities exist, however, to capture more spending locally since local consumers also appear to shop outside the community for other goods and services (e.g. clothing and electronics). Some categories, such as general merchandise, are strong, yet underperform in expected sales when compared to other communities of similar size.
Reviewed in 2019