If you turn to shopping more often than you care to admit, you’re not alone. Whether it’s something you need or want, filling up your shopping cart can be therapeutic.
Based on a recent survey, Americans indulge in retail therapy up to four times a month. And no wonder they do, as about 66% of them claim it’s boosting their mood.
Having a superior shopping experience comes down to location, with some places faring better than others in this department. A recent StorageCafe study looked at the best retail therapy places in the country, factoring in shopping options, availability of store staff, purchasing power and more.
Self-storage is also one of the metrics included, given that the service provides invaluable support when homes aren’t able to fit all belongings. As it turns out, Florida is the only state to have two entries in the top 10 best places for retail therapy, with the Miami metro area coming in first place and Tampa concluding the top.
The Miami metro area reigns supreme
The Miami metro area comes first for retail therapy, offering the best shopping experience in the country thanks to a plethora of shopping venues, a large number of retail staff and the purchasing power to fill up those shopping bags. As such, Miami caters to its shoppers through 8.8K stores in the metro area, or 1.4 stores for every 1,000 residents. Miami boasts the largest number of shopping venues relative to population.
Fashion seems to fly high with Miami residents, given that almost 4,000 retail stores are dedicated to clothing and accessories. Moreover, locals can also decorate their homes in style, with the metro area providing 1,150 home furnishings stores. To further complete the shopping allure, Miami is also home to 800 merchandise outlets and another 740 bookstores scattered in the metro area.
Looking at the bigger shopping picture, Miami totals an impressive 326M square feet of retail space. This translated to 53 square feet of retail space per capita, the second-highest provision relative to the number of locals. Moreover, shoppers can easily find their way around stores locally, with Miami ranking 10th for foot traffic, a metric that shows how walkable an area is.
The abundance of shopping venues tells only one side of a local shopping trip. A store’s helpers being there for the customers to assist them on their journey to find their next shopping steal is what completes the shopping experience. And Miami seems well equipped to deliver in this sense too, with the retail scene registering about 120K employees. This comes down to 19.6 employees per 1,000 residents, the second-best number when population is factored in.
Miami is also grabbing our attention for how much locals are budgeting to support a little retail therapy – about $7.6K on average, annually. As a result, the South Florida metro nabs the first spot for purchasing power, indicating the local buying power and interest in spending discretionary income on shopping. Related to income, this figure represents 10.7% of the local household income. For reference, Americans typically spend 13% of their household income on retail.
Other Southern metros also promise excellence in retail therapy
If you still want to have a superior shopping experience without leaving the region, the South has two other retail hot spots worth looking into. Coming second after Miami, Atlanta is another great place to fill your shopping bags. The metro area is home to an impressive 6.7K shopping venues of all stripes. About 2,500 of them sell clothing and accessories, and over 1,000 of them are dedicated to general merchandise. Close to 900 establishments sell furniture locally.
Metro Atlanta promises a rewarding shopping experience, with about 305M square feet of retail space beckoning local shoppers and visitors alike. This means there are 50 square feet of retail space for every resident.
Expenses can make or break the shopping experience, and Atlanta seems to favor shoppers in this respect – retail-related expenses are lower here, with an average of 9.8K per household/year. Locals spend about 11.5% of the typical Atlanta household income of about 85K.
Still in the South, Missouri’s St. Louis also manages to capture the attention of shopaholics. The metro area’s population is more spread out, with about 356 people per square mile. This ensures a seamless shopping experience where you can avoid large crowds. Rest assured, St. Louis is still well-supplied in terms of shopping options, with almost 2,900 shopping venues in the area, or about one per 1,000 residents.
Greater St. Louis is the top-performing metro for its retail space relative to population, boasting over 85 square feet per resident. Overall, the metro has an impressive 239M square feet of retail space. St. Louis is also well-prepared to cater to local shoppers in terms of the service offered, with over 52K people employed in retail. That’s 18 retail employees per 1,000 locals.
St. Louis locals are a little more liberal with their shopping budget, as they spend, on average, close to $10.5K annually. That represents 14.1% of the household income in St. Louis, standing at $74,500/year. Philadelphia shoppers are the only ones to spend more on retail, allocating 15.6% of their annual earnings for this type of expense.
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