SPOKANE, Wash. — The holiday season is here, and Americans are expected to spend more this year than ever before, but many consumers say they’re tightening their wallets as rising costs continue to take a toll.
Despite consumers spending concerns, local retailers are experiencing a boost as the holiday shopping season progresses.
“It’s make or break for us. We probably do 80% of our business for the entire year in our fourth quarter,” said Denielle Waltermire-Stuhlmiller, owner of Simply Northwest, a store in Spokane Valley that specializes in gift baskets.
But for the last few years, added economic uncertainty has challenged them.
“The last couple of years have definitely been very stressful as a small business owner,” Waltermire-Stuhlmiller said.
That struggle was felt by several businesses. But French Toast, a store in River Park Square, says things are starting to pick up.
Julia Lara owns French Toast and two other businesses in River Park Square. She says her businesses are seeing record numbers of early shoppers this year.
“We have seen people shopping early in record numbers,” said Julia Lara, co-owner of the store. “This is probably the earliest people have shopped in the 14 years we’ve had this business.”
Waltermire-Stuhlmiller has seen similar excitement. She says success at a recent open house has brought new hope.
“We just had that high energy there. There were a lot of people in it. It felt busy again for us, finally,” Waltermire-Stuhlmiller said.
The National Retail Federation projects sales to grow between 3.7 and 4.2 percent in November and December, which means spending will top $1 trillion.
Some shop owners believe that’s due to a mix of rising costs and people shopping more.
“We definitely experience an increase in our costs every year, just unavoidable. But we are also seeing most customers understanding that and know that prices are going up. So they are therefore still able to spend more with us,” Waltermire-Stuhlmiller said.
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