ROANOKE, Va. (WFXR) — Shoppers are expected to spend an extra $200 this holiday season.
That’s according to a Roanoke College poll, that says as inflation slowed over 2024, wages grew faster than prices. The survey says two-thirds of Virginians plan to spend the same as last year or more.
“I definitely like to spoil all my family members so I’m gonna go as big as I can while staying financially stable,” said Natasha Anderson, shopping in Downtown Roanoke.
“If there’s something I see that I like, that reminds me of someone or that I think they’ll enjoy, I’ll spend more on it,” said shopper Marli Dabareiner.
The forecasted boost in spending is good news for small downtown businesses.
Rachelle Walker, owner of WyndRose on Salem Avenue, is waiting to see what upcoming holiday shopping holds.
“That can make or break our entire year,” she said. “It’s called Black Friday and Small Business Saturday for a reason. We really don’t make any of our true sales until the 4th quarter.”
At Market Street’s chocolatepaper, co-owner Melissa Mays is optimistic about the holiday season.
“We’re seeing great reports, great numbers here already, so again as a retailer you’re always thinking okay is it going to happen again? And we are confident that it is,” she said.
Local businesses hope shoppers will spend that extra money here in Roanoke.
“If you’re spending your time here in Roanoke, living, working in Roanoke, we appreciate all that support back here,” said Walker.