Nov 16, 2022 - Business

Houston residents expect to spend more money this holiday season

Shafaq Patel

Illustration of the bottom of a Christmas tree made out of cash without gifts — Illustration: Sarah Grillo/Axios

Houston residents are ready to shell out more cash this holiday season.

Driving the news: Shoppers in the metro area expect to spend $1,577 this holiday season, up 14% since last year and surpassing local pre-pandemic levels, according to Deloitte's annual holiday retail survey.

The intrigue: The majority of Houston shoppers say they're financially worse off than last year, yet they still plan to spend more this holiday season because of inflated prices.

To manage, Houstonians are predicted to purchase an average of only nine gifts, compared to 17 in 2021.

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

Of note: Houstonians still prefer online shopping for the holiday season.

34% of local shoppers plan to finish buying gifts by the end of this month and over half plan to shop on Black Friday and Cyber Monday.
But 22% of shoppers said they finished by Halloween. Did y'all already start and finish your holiday shopping?!

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Houston residents expect to spend more money this holiday season

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