Just 20% of North Carolinians plan to do their holiday shopping on Black Friday, compared to 40% on Cyber Monday, the biggest online shopping day of the year. The poll from High Point University found that 62% of N.C. shoppers say inflation shrank their holiday shopping budget this year.
Shipping delays are causing more than half of shoppers concern this holiday as the national supply chain disruptions and shortages factor into their holiday plans. More than 80% say their holiday stress will be about the same or more than 2021.
If finding the right gift is one of those stressors, the North Carolina Chamber of Commerce has a few ideas. Their holiday shopping Gift Guide is a listing of products made in the state including clothing, handbags, toys, gourmet foods, even handmade saddles and crab pot Christmas trees.
“What began in the 1880s as a few textile mills across North Carolina’s landscape has evolved into an impressive, technologically driven industry that generates nearly one-fifth of the gross state product and employs more than 1 in 10 of the state’s workforce,” said Gary J. Salamido,
President and CEO, NC Chamber. “What’s made in North Carolina really does make North Carolina.”
In the HPU poll, NC respondents said they planned to spend, on average, $859 on gifts, food, decorations and other items related to celebrating the holidays.
“Overall holiday spending, as supported by the HPU poll, will likely be similar to last year,” said Jerry Fox, High Point University associate professor of economics. “One positive factor contributing to spending is ongoing low unemployment. But this is offset by the negative impact of high inflation and rising interest rates on holiday purchases.”
Nationally, more than 166 million people are expected to shop the weekend after Thanksgiving, according to the National Retail Federation, and they group expects spending to be up again this year. The group credits some online consumer spending for much of the jump in holiday retail gains.
“NRF forecast earlier this month that holiday sales during November and December will grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion,” their report read. “Last year’s holiday sales grew 13.5% over 2020 and totaled $889.3 billion, shattering previous records. Holiday retail sales have averaged an increase of 4.9% over the past 10 years, with pandemic spending in recent years accounting for considerable gains.”
The most recent HPU Poll of 1,015 respondents was fielded by the High Point University Survey Research Center on Nov. 10 through Nov. 17, as an online survey using a panel of respondents recruited and maintained by Dynata with a margin of error of plus or minus 3.2 percentage points.