Dallas shoppers becoming more sophisticated with their spending

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With the holidays just around the corner, Dallas' sophisticated shoppers are gearing up to spend.

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Korri Kezar

Staff Writer- Dallas Business Journal

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Being home to retailers such as Neiman Marcus, Pier One and Fossil, its no wonder Dallas-Fort Worth is also a haven for sophisticated shoppers.

A study conducted by Deloitte surveyed more than 5,000 people to gauge their opinions on the economic climate and their spending habits. More than 500 respondents were from the Dallas area.

Deloitte found that, on average, North Texans plan to spend $1,304 this year on holiday expenses, which can include gifts, travel and entertainment. That's $5 more than the national average, but 23 percent less than what they planned to allocate last year.

But that doesn't mean Dallas consumers have stopped consuming. It means they've gotten smarter on how they roll out the dough, said Gene Monacelli, a principal in Deloitte's Dallas office.

"People are buying same number of gifts, they're just doing so in a more savvy way," he added. "I think we have a much more sophisticated shopper than the national average."

Dallas area resident are making their dollars stretch further by purchasing holiday items on sale and hitting discount or value department stores for lower prices. Most shoppers – 55 percent – also said they go online to find better prices, deals and coupons.

North Texans' shopping habits also reflect their optimism on the local and national economy, according to the survey. Only 24 percent of respondents said they believed America was still in a recession, while 48 percent believe the economy will improve in 2015.

"I think it's because Texas didn't see the dip that the rest of the country did," Monacelli said. "And the local geography was less impacted."

Korri covers banking, finance and nonprofits for the Dallas Business Journal. Subscribe to our email newsletters.