The holidays are expected to bring cheer to U.S. retailers this season with projections of record sales and a 4 percent rise in spending.
U.S. shoppers are projected to spend a record $682 billion on gifts, fuel and food during the two-month holiday shopping season of November and December, according to projections by the National Retail Federation — an almost 4 percent gain from $655.8 billion in U.S. retail sales during the same period last year.
The average San Antonio consumer is primed to spend slightly less on holiday gifts and food than in previous years. In 2015, San Antonio shoppers had an average holiday shopping budget of $810, according to a WalletHub study. This year, they have $581. San Antonio consumers’ debt-to income ratio also rose from 32.7 percent in 2015 to 50 percent this year, according to WalletHub.
In Texas, retailers are poised to post their most robust holiday receipts in years after the downturn in the state’s oil and gas industry prompted job losses and stagnated income growth.
Click through the slideshow for Black Friday hours for San Antonio stores and malls.
Joshua Fechter is a retail and tourism reporter for mySA.com and ExpressNews.com. Read more of his stories here. | email@example.com | Twitter: @JFreports