Boston holiday shoppers expect to spend nearly $2,000, survey finds

With peak holiday shopping season fast approaching, Bostonians anticipate spending nearly $2,000 on average this holiday season, according to a Deloitte survey.

About 440 Boston-area shoppers surveyed by Deloitte from August to September expect to spend $1,955 on average this holiday season, a meager 4 percent from last year but still higher than the expected national average of $1,778.

Anthony Jardim, principal in Boston’s retail practice at Deloitte, said the slight increase in average expected spending is largely due to increased spending on experiences and about 70 percent of respondents feeling that gift prices will be higher.

“Customers are going to be hunting for those deals and promotions,” he said. “They’re willing to go to multiple locations in order to get them, and in terms of timing, you’re going to see folks looking for those promotions earlier.”

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According to the survey, 75 percent of Boston respondents plan to shop during Thanksgiving Week, and more shopper participation is expected compared to last year on Thanksgiving Day, Black Friday, Small Business Saturday, and Cyber Monday.

Consumers are also increasingly using tech tools — including generative AI — to sleuth around for deals as they shop, he said.

“We’re seeing [consumers] be a little clever and use [AI] as a tool to find different promotions or deals or where to find the best value for those gifts that they’re looking for,” he said. “Even as an idea generator as well for different types of ideas for folks that you want to get something unique and different, it’s definitely been a useful tool.”

As far as what they’re spending on, retail spending is not expected to change much from last year, according to the survey. Clothes and accessories leading the way as the biggest spending category, which Jardim said is not a surprise. But spending on experiences — such as concerts, restaurants, and hosting at home — is expected to increase 9 percent.

“Customers coming out of the pandemic, they’re going to want to be socializing more, they want to be going out more, so we’re seeing that category see the most growth,” he said.

Gift cards are expected to see the biggest decline, which Jardim said may be due to perceptions about inflation.

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“Maybe a $50 gift card this year isn’t the same value as a $50 gift card last year,” he said.

Although they’re budget-conscious, the Boston-area consumers Deloitte surveyed showed optimism about the economy: 42 percent expect the economy to improve next year, up from just 27 percent in 2023.

“Bostonians are definitely feeling steady about the economy,” Jardim said, “and plan to spend about the same as they did last year on holiday shopping.”

Stella Tannenbaum can be reached at [email protected].