Texans Getting Ready For Christmas Shopping Say "What Recession?"
If you're a Texan, you're getting ready to blow the budget this Christmas because, apparently, why the hell not?
The 24th annual holiday survey by financial firm Deloitte says (not in so many words, of course) that Texans are ignoring every piece of news available about current economic conditions.
Fears about the recession are slowly subsiding, with more than half of Texans surveyed (55 percent) saying they expect the economy will improve in 2010, compared with 27 percent who responded favorably last year.
The positive outlook is reflected in their shopping plans as well. More than half of Texas consumers (55 percent) hope to spend more or the same on the holidays, an improvement from 43 percent last year. Specifically, the survey revealed that Texans' total anticipated holiday spend is $1,380, or 21 percent higher than the national average of $1,145.
This sounded like the usual rosy-scenario prediction always dished out around this time, so we checked to see if last year's predictions were as glum as this year's made them out to be.
And they were. So maybe Deloitte is correct.
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"Texans appear poised to remove -- at least temporarily -- the padlocks from their wallets and embrace the spirit of holiday spending this year," said Deloitte's Sherrie McAvoy. "Consumers throughout the state feel more confident in the economy overall, and with economic indicators easing from their worst levels over the past few months, we expect to see some pent-up demand manifesting itself in the form of more spending in stores this season."
Still, it's not like we're all heading to Tootsie's or Neiman's -- the survey says 60 percent of Texans plan to hit a discount store this season.
Get ready for those Target gift cards, nieces and nephews in the Lone Star state.