Philadelphia Shoppers Expected To Spend Less Than Most This Holiday Season
PHILADELPHIA (CBS) -- The official start to the holiday shopping season is nearly upon us, but just how eager are you to empty your wallet? It turns out Philadelphia is bucking this year's national trend of spending more, according to a survey.
When kids hear this stat...
"Spending nationally is going to be up pretty significantly -- almost 12.5 percent, according to the respondents."
They might be doing a victory dance. But Bill Park, retail specialist at Deloitte, says not so fast.
"National consumers are going to spend, on average, $1,462, compared to Philadelphia folks at $1249,"- so, down about $200."
Dig deeper into Deloitte's 30th annual holiday survey, though, and find that we're spending less on ourselves: things like restaurants and home furnishings are taking a back seat to gifts for others.
And we love a bargain.
"That may be one reason why the spending's down a little bit -- in Philadelphia, they're really looking for those deals," Park says. "They're trying to simplify a bit and spend a bit less, but they are certainly out there taking advantage of sales and couponing."
Just save some money for this weekend. Park says the average spent is about $370 from Black Friday through Cyber Monday -- up a lot from last year, and with a lot more of it spent online.
