Charlotte holiday shoppers will spend more than most, survey finds. Are you one of them?

If you’re one of those people who like to get a jump on their holiday shopping, a new survey says you’ve got company in Charlotte.

Even facing economic pressures such as inflation this holiday season, 71% in Charlotte shoppers said they will likely spend more or the same on the holidays than last year, according to a holiday retail survey by Deloitte, a consumer industry research firm. And they’re already checking gifts off their lists.

Charlotte shoppers will spend $1,517, which is 4% more than the national average. That’s despite 41% of people surveyed saying their financial situation is worse than last year, according to the survey shared exclusively with The Charlotte Observer.

And 42% of Charlotte shoppers said they are starting early this year, compared with 38% nationally, the Deloitte survey found. That could be due to budget concerns and 82% of Charlotte shoppers expecting shortages on items like electronics.

Several Charlotte shop owners who spoke with The Charlotte Observer recently expect holiday sales to be about the same as last year with gift-buying already underway.

“Oh yes, they’ve been Christmas shopping for gifts since September,” said Michelle Castelloe, owner of Moxie Mercantile and Betty by Moxie Mercantile.

Moxie has locations in Plaza Midwood, Davidson and Matthews, plus its Betty brand of children’s and women’s apparel that launched last fall. Moxie will open another store in Fort Mill, S.C., likely in January, Castelloe said.

Over at Eliza B’s at The Arboretum Shopping Center in south Charlotte, owner Amber Shealy said sales started really picking up last week.

“We are definitely seeing people shopping early especially as we get closer to Thanksgiving,” she said.

Still, she expects the biggest rush to be next month closer to Christmas and the school holiday break. “That’s usually the biggest week for us,” Shealy added.

Shoppers face budget constraints

After two years of pandemic challenges with shutdowns and other restrictions, plus supply chain shortages, there’s yet again another hurdle.

“I do think the economy is a big concern for a lot of people,” Castelloe said.

Although customers are spending more on each transaction, up 5%, comparing recent months to last year, Castelloe said foot traffic is down slightly. She blamed the drop mainly on recent abnormally hot and rainy days.

At Paper Skyscraper gift shop in Dilworth, co-owner Bill Godwin said while he expects higher prices and inflation to affect sales, so far so good.

“Fortunately, we’re seeing a lot of customers choosing to shop local which drives local economic growth,” he said. “We’re early in the season so (we) don’t really know how it’s going to shake out at this point.”

The store has 40,000 products from 500 vendors, of which about 100 are local, Godwin said.

“We’re not seeing the price hikes anymore or the supply chain issues but what we are seeing is that (personal finance) concern,” Godwin said. “It’s going to be an interesting year as it has been the last few years.”

It’s the support of loyal shoppers, local shop owners say, that helps them to continue to thrive.

“In a world where so much is online, it is nice to come into a store to see a friendly face and feel and touch things, and have items complimentary gift-wrapped,” Shealy said.

However, small shops also offer online sales, as well as pick up, and Castelloe said even local delivery.

Looking for deals

Because of economic pressures, shoppers are looking for more deals this year, Deloitte’s national retail expert Rod Sides, who is based in Charlotte, told The Charlotte Observer.

Deloitte’s survey found the most popular days to shop will be Black Friday (30%) and Cyber Monday (34%).

But looking past those days, for the first time, Paper Skyscraper is planning a 30% off sale on holiday decor for the weekend after Thanksgiving, Godwin said.

During economic downturns, like in 2008, gift cards are the No. 1 choice of gifting, Sides said. This year is no different with Charlotte shoppers, according to Deloitte’s survey. Gift cards make it easier for shoppers to manage their holiday budget, Sides said.

Major retailers like Walmart started Black Friday Deals for Days sales this month and Mooresville-based Lowe’s also started rolling out month-long deals.

While sales will be spread out through Christmas, Bill Boltz, executive vice president of merchandising for Lowe’s, said the store will still have deep discount tags in stores and online on Black Friday.

“It’s more than just tools in the store,” Boltz told The Charlotte Observer. The home improvement retailer also sells home goods and toys, scooters and electric bikes. “Some of that stuff that maybe folks wouldn’t have expected us to carry,” he said.

Sides expects Black Friday will see a boost this year. “Black Friday is expected to see a big resurgence,” he said.

More data from Deloitte’s survey

Deloitte’s Holiday Research Survey also found:

▪ 82% of Charlotte shoppers expect stock shortages, mainly in electronics.

▪ 74% of Charlotte shoppers expect higher prices this holiday season.

▪ 64% of people in Charlotte plan to use their smartphone to shop.

▪ 61% of shoppers’ budgets will likely be spent shopping online, slightly lower than nationally (63%).

▪ 56% will shop at discount retailers like TJ Maxx and Walmart, followed by department stores compared to 49% nationally.

▪ 54% of Charlotte shoppers plan to shop during Thanksgiving week, compared to the national average 49%. That’s up in Charlotte from 47% last year.

▪ 36% of Charlotte shoppers will shop in stores, on par with national average.

▪ 24% of Charlotte shoppers prefer local independent stores.

▪ 24% of holiday budget was expected to be spent in October and 30% by the end of November.

▪ 4 in 10 Charlotte shoppers are in a worse financial situation this year and nearly half expect a weaker economy next year.

▪ 10 is the average number of gifts Charlotte shoppers will buy compared to last year’s national average of 16.

About the survey

The survey polled a national sample of 4,986 consumers from Sept. 6-14 and has a margin of error for the entire sample of plus or minus one to two percentage points, according to Deloitte.

The Charlotte survey polled 425 consumers Sept. 6-21 and has a margin of error for the entire sample of plus or minus five percentage points. The surveys were developed by Deloitte and conducted online by independent research companies.

This story was originally published November 22, 2022 at 6:00 AM.