AUSTIN, Texas — A new report by Downtown Austin Alliance found that Downtown Austin's economy continues to strengthen post-pandemic. While the restaurant industry has bounced back, the retail business is down.
According to the report, the total number of retail businesses is down by 18% since February 2020. Downtown has 45 fewer retail businesses available for local shopping.
Waterloo Records is one downtown spot that's been around for decades.
"The store opened 40 years ago," said John Kunz, Waterloo Records owner.
When the pandemic hit, the vinyl shop struggled.
"I laid off my entire staff," added Kunz. "Including myself and, you know, we were all on unemployment."
However, as more people switched to working from home, the record business boomed.
"They were maybe working from home or were unemployed and at home," he said. "And they were looking to make their home environment that much more like them. One of the ways they did that was by collecting and listening to more music."
On the weekend of Thanksgiving, sales increased more.
"Traditionally been the kind of the kickoff to the holiday shopping season and gift-giving season," said Kunz.
Small businesses rely on the holidays to boost their sales so they can stay open. On Small Business Saturday, the City of Austin reminds people to shop local.
"For every $100 spent locally and in local business, $45 stays in Austin," said Jackie Mayo with the City of Austin.
As more people continue to shop locally, businesses like Waterloo Records will continue to thrive.
"You know, only one way to keep Austin weird and that's to shop local," Kunz said.