Business Beat: Retailers Look To Rebound, Nevada Hemp Industry Gets Green Light
Here’s the latest business news from around Northern Nevada, with Business Beat from the Northern Nevada Business Weekly.
Nevada Retailers Cautiously Optimistic
As COVID-19 restrictions started to lift this spring, retailers in Northern Nevada were hopeful they could regain some lost revenues.
Bryan Wachter with the Retail Association of Nevada told the Northern Nevada Business Weekly he’s optimistic in consumer confidence; however, labor shortages and supply chain issues still remain a major challenge moving forward. Wachter said one pandemic trend he expects to continue is digital shopping, like grocery delivery.
Last month, the National Retail Federation said it expects retail sales to jump between 10.5% to 13.5% this year, compared to 2020.
Local Hotels Facing Labor Shortages Among Rising Demand
Guests to northern Nevada may notice the hotel employee checking them into their room could be the same person cleaning it. That’s because hotels in the region are seeing a sharp rise in occupancy — but also a steep decline in staffing.
Whitney Peak in downtown Reno has 30% to 40% fewer employees than it did before the pandemic, according to the managing director, and occupancy is at about 85% of where it was before the pandemic.
The manager says labor shortages may force hotels to make more permanent changes, like having customers opt-in for daily cleanings rather than getting them automatically.
Nevada Hemp Industry Approved By Federal Government
While the federal government debates over decriminalizing cannabis, Nevada’s plan to regulate the hemp industry just got the green light from the feds, and that could be a big deal.
According to previous reports, Nevada’s hemp industry had just 26 growers five years ago. As of last summer, participation has grown by 600%.
Kevin MacMillan is a KUNR contributor and editor with the Northern Nevada Business Weekly. For more business news, check out the Northern Nevada Business Weekly at nnbw.com or in print on Wednesdays.