TEXAS, USA — We're making our lists and checking them twice, even if the price tags look naughty or nice.
A DFW-focused Deloitte Holiday Retail survey gives an idea of when and how people are planning to shop for the holiday season.
According to their study, North Texans are expecting to spend more than the average American. Shoppers in Dallas-Fort Worth plan to spend around $1,770, about 22% more than the national average.
Another thing worth pointing out: more than a third of that estimate is expected to pay for experiences rather than gifts. Instead of physical items, $675 of that $1,770 (36%) will go to things like concert tickets, restaurants and at-home entertainment.
Another $514 is set to go to "non-gift purchases" (clothes, furniture, etc).
On top of North Texas preparing to spend more money, the study says 44% of residents are planning to finish their shopping earlier this year. Approximately 34% of DFW survey-takers were looking to start spending by the end of October (vs. the 23% U.S. average).
The highest spending ($597) was expected to be done by the end of October, then the next peak ($528) will be in the second half of November.
A few more North Texans are expected to shop online this year than they did in 2021. The Deloitte study says 8% more people will use the internet while in-person shopping could see a 3% decline.
While DFW residents are expected to shop bigger and earlier than the average American, that doesn't mean we're not worried about inflation.
Almost three of four survey-takers (from Dallas-Fort Worth and from the U.S. in general) are expecting higher prices this holiday season. On average, people are planning to buy nine gifts this year instead of the average of 16 gifts in 2021.
In addition to that, close to half of survey-takers from North Texas expect the economy to weaken in the next year. That's only 1% less than the national percentage, but more people overall are expecting a weaker economy compared to people that took the survey in 2021.
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