Most of the residents in El Paso County who responded to a Southern Colorado Economic Forum survey said they plan to do their holiday shopping in the area.
Thirty percent of shoppers intend to make the majority of their purchases at the Chapel Hills Mall. Three other places, however, are also primary targets for a majority of shoppers’ purchases: Promenade Shops at Briargate and the Powers Boulevard Corridor, both with more than 17 percent, and downtown Colorado
Springs, with nearly 14 percent. Almost 8 percent of survey respondents said they intend to make the majority of their purchases
from the websites of local retailers.
This year’s survey responses are similar to last year’s, however, a higher percentage, 57.8 percent, plan to
spend 30 percent or less of their gift dollars online – compared to 52.7 percent last
Not surprisingly, more people are buying online, and they’re buying a more of their total purchases online. Although local “brick and mortar” retailers are losing sales to online business, some of these online purchases will be with local merchants.
The upward trend in retail sales in the county is expected to continue through the holiday season. Compared to last year, more people are planning to spend more for gifts and other holiday purchases.
Survey respondents said they are more secure in their employment – and they are more positive about the future.
Consumers are more confident this year, which likely means more shopping and a better bottom line for retailers.