Raleigh is a Big Spender
The Triangle Business Journal reported yesterday that a new study by Bundle.com has placed Raleigh as number six on the list of cities that spend the most on items other than housing. The average Raleigh household spends $53,398 on items other than housing, ranging from shopping, utilities, and just general going out and having fun money. Also popping up on the list was Durham at number 10, with an average of $51,114 per household. Austin, TX ranked number one with $67,076 per household.
The chart prepared by Bundle shows that Raleigh and Durham are pretty neck and neck when it comes to spending on food and drink, but one of the big differences between Raleigh and Durham was that Raleigh spent much more on shopping, about 50% more.
With statistics like this, it shows that Raleigh is ready to do some shopping. Can these types of figures help lure more retailers downtown?
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Rusty
03/29 10:32 AM
Hooray for rampant consumer-whore-ism!
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JT
03/29 12:20 PM
Hmm, so if we have 2 residents, one that spends 10,000 a year and one that spends 200,000 a year. Does that make it worth it for retailers given the average is over 100K a year? What if we have 2,000,000 residents that all spend 5000 a year?
Better yet, what if the 2 live outside the beltline and do their shopping at Crabtree?
In other words, you didn’t take into account how the data could be skewed and realize the average is meaningless to the case you are making and second that geography could effect retail decisions as well.
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