What a new survey says about Charlotte shoppers’ plans for the holiday season

Holiday shoppers around the region plan to spend significantly less this year compared to last year and are looking for deals, a new survey found.

Shoppers in Charlotte will spend about $1,419, down 32% from last year, according to a holiday retail survey by Deloitte, a consumer industry research firm. That’s 20% less than the national average, which is expected to be $1,778. It’s also a 7% decrease from 2022.

Charlotte shoppers plan to buy an average of nine gifts, one less than last year.

A decline in financial circumstances and expected inflation across all income groups are to blame, according to the survey. Seven out of 10 people are expecting higher retail prices.

“Even though people surveyed say that they expect higher prices, they still plan to spend,” said Stephen Douglas, managing director of Deloitte Consulting. Douglas is based in Charlotte. “Most plan to shop online retailers and mass merchants as they focus on deals and product variety.

“They think that’s where they’re going to get the biggest bang for their buck.”

Still, local retailers say they are busy and stocking up for the biggest shopping season of the year.

At Harper & Skyler’s Toys and Sweets on Park Road, on the Wednesday before Thanksgiving the store was already bustling. Owner Dan Weiss said the three-year-old shop typically brings in up to 30% of its annual business during the holiday season.

“I’ve stocked up like I do every year,” he said.

For Black Friday, he’s planning some deals, like spend $100, get a $20 gift card.

“I don’t try to compete with big boxes. I just can’t,” he said.

Over at Paper Skycraper, owner Bill Godwin said shopping for holiday decor started strong after the election. Papaer Skyscraper has locations on East Boulevard and South Tryon Street in uptown. Up to 40% of the gift shop’s annual revenue is made during the last three months of the year, Godwin said.

He’s expecting “a mad rush” the last two weeks before Christmas because of the shorter shopping season with Thanksgiving falling later this year.

Godwin expects customers to be more price-conscious, a trend he’s seen all year. He has stocked more gifts like ornaments and candles.

“We’ve adjusted our product mix to meet those customer demands,” Godwin said.

Charlotte shoppers’ plans

A bulk of holiday shopping in the Charlotte area is expected during Black Friday, Small Business Saturday and Cyber Monday, Douglas said.

The majority of Charlotte shoppers plan to scout for deals during Thanksgiving week. Over half of local shoppers, 56%, plan to shop on Black Friday while 48% plan to check off their gift-giving list on Cyber Monday.

Only 17% plan to shop on Small Business Saturday, a marketing initiative to support local businesses by shopping the Saturday after Thanksgiving.

“Customers are drawn in by discounts, that’s how you’re going to get people in your store,” Douglas said.

The majority of Charlotte shoppers surveyed said they plan to shop online, at 81%, up from 64% last year.

Online shopping is ideal for time-saving, product variety and availability, Douglas said, while with in-store shopping, Charlotte customers are looking for product quality, customer service and free returns.

Also technology is crucial to meeting customers where they plan to shop, Douglas said. About 49% of people surveyed plan to shop using their smart phone and 9% plan to shop through social media, buoyed by Millennials and Gen Z.

Charlotte shopping numbers

Budget-conscious Charlotte shoppers also plan to:

▪ 73%, shop during at least one promotional event

▪ 58%, look at alternative brands

▪ 47%, shop at affordable retails instead of preferred ones

▪ 36%, send fewer gift cards than last year

▪ 34%, seek private labels or dupe products

▪ 29%, re-gift items

▪ 18%, give handmade gifts to save money

About the survey

Deloitte surveyed 423 people in the Charlotte market from Aug. 30 to Sept. 17.

In all 4,000 people across the country and 45 retail executives were surveyed with a breakdown in local markets of the Southern region and Charlotte. The survey is a combination of online responses and interviews.

This story was originally published December 2, 2024 at 5:50 AM with the headline "What a new survey says about Charlotte shoppers’ plans for the holiday season."