Holiday Shopping Boosts Economy - Newschannel 6 Now | Wichita Falls, TX

Holiday Shopping Boosts Economy

Many people are hitting the stores with their Christmas money, the gift cards they got, or just want to get in on the holiday deals.  All of the money spent during the holidays boosts the economy.

When you're in retail, you know that you're going to make most of your profit towards the end of the year, especially if you sell things that are used as gifts,” Henry Florsheim, the President/CEO of the Wichita Falls Chamber of Commerce said.

He said sales tax collections also go up during the holiday shopping season.

He said, “Sales taxes are what the city and county use to build roads and provide services to us as citizens and it's also what funds our economic development tax.”

Wichita Falls doesn't just benefit from local spenders.  Florsheim said the city is a retail and service hub for North Texas.

“We're not only getting the dollars that people from here spend and people who visit those folks spend, but think about it,” Florsheim said, “Somebody who lives in the outskirts, an hour away, maybe in a town that doesn't have a mall, they're going to come into Wichita Falls and spend money.”

Those people will most likely spend money on gas and food, which brings even more money into the economy.

One of the popular place to go in Wichita Falls is right by Sikes Senter Mall.  Those businesses have been booming since the holiday season began.  Since more people are out shopping, businesses have beefed up their staff.

“They add seasonal staff, just like the retailers do for that period of time and they're certainly connecting more dollars than they would usually,” Florsheim said.

More jobs have been added to the economy for the holiday season, which also benefits the economy.  Many smaller stores also benefit from the holiday shopping season.

“A lot retailers really just tread water until the end of the year and the last couple of months is when they make their profit.  So, their business, their livelihood depends on that,” he said.

The holiday shopping season isn't over yet.   People are expected to hit the stores until the middle of January.  However, retailers said it's been a good season so far.

Alexandra McClung, Newschannel 6     
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