Ohio consumers have a more positive outlook about the economy and about their household finances, and they’re planning to spend more on holiday gifts, according to Deloitte’s 27th annual survey of holiday spending intentions and trends released today.
More than one-half (52 percent) expect the economy to improve in 2013, which is consistent with the national average (50 percent) and their most positive outlook since 2009, Deloitte said in a news release. And 66 percent of Ohio consumers surveyed say their current household financial position is the same or better than last year.
Ohio shoppers plan to increase their overall holiday budgets by 5 percent to nearly $1,100, and the gift-giving portion of their holiday budget will climb to an average of $475, a 26 percent increase over last year, Deloitte officials said.
“The news has been getting better lately on the job and housing markets in Ohio, and I think that is having a positive effect on consumers’ outlook and how they feel about spending during the holidays,” Ed Bentley, Deloitte & Touche LLP partner and leader of Deloitte’s retail and distribution sector practice in the Central region, said in the company’s news release. “That doesn’t mean we are out of the woods yet. Consumers are still cautious because of high gas and food prices and debate about the fiscal cliff.”
Nearly one-quarter (24 percent) of consumers surveyed across the country, and 20 percent of Ohioans surveyed, said they might delay shopping until after the election.
The survey was commissioned by Deloitte and conducted online by an independent research company between Sept. 14 and Sept. 24. The survey polled a sample of 5,089 consumers nationally, 500 of whom live in Ohio.
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