Denver metro shoppers are expected to pinch pennies this holiday season.
State of play: The average consumer is forecast to spend $1,782, down 6% from last year but on par with the national average, according to the 2024 Deloitte Denver holiday retail survey.
Blame higher prices pushed by inflation, worsening personal finance and shifting gift preferences.
Yes, but: Despite lower retail spending, Denver shoppers expect to spend more on experiences this year, an average of $818, up 7% from a year prior.
The intrigue: To save money, self-gifting is out and handmade gifts and re-gifting are in.
One-third of shoppers said they planned to make gifts, far above the national average of 23%.
Between the lines: The consulting firm conducted the online survey Aug. 30 to Sept. 6. The margin of error is +/- 5 percentage points.