Santa better whip out his wallet in Philly
Santa Claus is coming to town, and he better bring a big, fat wallet because Philadelphians are spending less on holiday gifts than in years past. Why it matters: Making kids and adults happy this time of year isn't cheap. Driving the news: Philadelphia shoppers are projected to spend $1,484 this year, down from $1,777 in 2024, per Deloitte's holiday retail survey . That's less than the national spending average ($1,654), which is increasingly being driven by millennial and Gen Z shoppers. 77% of those surveyed are expecting higher prices. The big picture: Philly shoppers are buying holiday gifts earlier in the year , with 23% of those surveyed saying they'll have already blown through their holiday budgets by October. Black Friday is still expected to be the city's biggest spending day, with many shoppers preferring to hunt for deals in person rather than online. How it works: Deloitte surveyed 413 Philadelphians between late August and mid-September, with a margin of error of ±5 percentage points. The intrigue: Despite scaling back spending, 46% of Philadelphians expect the economy to remain the same or improve in the next year, up from 41% in 2025. Zoom in: More Philadelphians are spending on
