Nov 3, 2022 - Business

Dallas shoppers planning to spend more this year, even with inflation

Christmas decorations are already up. Photo: Courtesy of Cormac West

Dallas-Fort Worth shoppers plan to spend $1,770 on gifts this holiday season, 22% higher than the national average, according to Deloitte's annual holiday shopping survey.

Why it matters: Shoppers say they are financially worse off than last year but still plan to spend more this holiday season in spite of inflated prices, the survey found.

Zoom out: Nationally, shoppers are predicted to spend about $1,400 on gifts this holiday season, on par with last year.

  • Shoppers in the West, Midwest and Northeast are predicted to spend less this year than 2021. Shoppers in the South plan to spend 16% more than last year.

Zoom in: Dallas-Fort Worth shoppers plan to spend about 12% more than in 2021.

  • Half of the shoppers surveyed who said they will spend more say it's due to higher costs. Of the people who said they will spend less, 70% said it was due to higher costs.

Of note: D-FW shoppers plan to finish gift buying earlier than the national average, and 34% of the holiday shopping budget was predicted to be spent by Halloween.

  • Which of you are already finished?!

The intrigue: Dallas shoppers are more likely to buy experiences as gifts than the national average, with 36% saying they plan to buy an experience in D-FW. Only 7% of people nationally plan to do that.

The bottom line: Concerns about the economy are shaping shoppers' decisions this year.

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