Dallas area shoppers said they plan to spend 23 percent less than last year on the holidays, according to a new survey.
Deloitte polled 500 people in the Dallas area as part of its national survey that was based on 5,000 respondents.
The big decline in spending from a year ago is difficult to explain, but Deloitte said the spending average from the 2013 survey was probably an “anomaly.” A year ago, the Dallas respondents said they planned to spend $1,690 on the holidays.
On gifts alone, Dallas residents plan to spend $479, just above the national average of $458, but below last year’s $501.
Nearly half (48 percent) of the people polled in Dallas said they believe the overall economic outlook will improve next year versus 44 percent who said that nationally. Still, 24 percent said they believe the U.S. economy is still in a recession.
Most people in Dallas (60 percent) are looking for sales and said they will spend about $1,304 on the holiday, about even with the national results of $1,299. That includes gifts, non-gift clothing, entertaining away and at home and other expenses.
The average age of the Dallas respondent was 45 years old with an annual household income of $73,400 before taxes. One third of the Dallas participants in the survey have children under the age of 18 living at home. It’s an educated bunch: 38 percent are college graduates and an additional 17 percent have graduate degrees.
Dallas area shoppers said they were more interested in finding better prices and using coupons than the national average: 52 percent said they will use store coupons versus 47 percent in the national survey.
When asked when they expect to do most of their shopping, 40 percent of Dallas residents said they will do most of their holiday shopping in December or later.
More Dallas residents get into the Black Friday and Cyber Monday scene: 17 percent versus 13 percent nationally.
Shoppers at Grapevine Mills. (Patrick T. Fallon/The Dallas Morning News)