How inflation will impact your holiday spending

Published

2 years ago

October 28, 2022

How inflation will impact your holiday spending

Illustration: Shoshana Gordon/Axios

Put together to get — and provides — fewer presents this vacation season due to inflation pains, in line with a brand new Deloitte vacation retail survey printed at the moment.

Why it issues: The annual report analyzes shopper behaviors and emotions forward of the vacations, signaling to retailers what’s in retailer and the way finest to draw customers.

By the numbers: Denver shoppers plan to spend $1,624 this season, a 12% decline in comparison with final yr, the survey exhibits.

40% of native customers say their monetary conditions are worse than earlier than.
To handle, individuals are predicted to buy a mean of solely 10 presents in comparison with 17 in 2021.

Sure, however: The Grinch that’s inflation is not utterly dampening Denver’s spirits.

Locals nonetheless plan to spend about 12% greater than the nationwide common, the evaluation exhibits.

What else: To make sure the season stays merry and brilliant, the survey exhibits customers are additionally pulling again on non-essentials by about 21% year-over-year.

Denver residents are stretching {dollars} even additional by spending essentially the most on presents tailor-made towards experiences — at a mean of about $622.

Of observe: About 60% of native retailers plan to begin their vacation promotions one to 2 weeks sooner than final yr, giving shoppers a chance to avoid wasting just a little sooner.

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Related Topics:Colorado Consumer Confidence Consumer price index (CPI)consumers Featured Holidays inflation retail

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Bo Nix talking Super Bowl as the Denver Broncos try to earn a playoff berth

Published

17 seconds ago

December 18, 2024

Press Room

Bo Nix talking Super Bowl as the Denver Broncos try to earn a playoff berth

The Denver Broncos are one win away from earning a playoff berth. The Broncos (9-5) can clinch their first playoff berth since the 2015 season with a win Thursday against the Los Angeles Chargers.

Peyton Manning was the quarterback the last time the Broncos reached the playoffs.

Denver quarterback Bo Nix knows what’s a stake in the game against the Chargers (8-6), but he doesn’t want his teammates to view the game as a one-and-done in terms of earning a playoff berth. The rookie is thinking big.

“We’ve got three games to win three and go into the playoffs and win a Super Bowl,” Nix told reporters on Tuesday.

The Broncos have won four consecutive games, their longest winning streak since the 2023 season, when they won five consecutive games. Nix wants the Broncos to win their final three games of the regular season and enter the playoffs riding a seven-game winning streak.

However, if the Broncos want to extend their current streak and earn a playoff berth, they must defeat the Chargers.

“We’ve talked about it all year, ‘The next game is the most important game. Right now, this is what’s important to us. It’s the most important,” Nix told reporters on Tuesday. I think this next one would put us on track for where we want to go. So, we have a lot of work to do. The job’s not finished, so that’s what we’re going to do.”

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Denver, CO

Economic hardship applications granted for Denver historic homeowners

Published

8 hours ago

December 18, 2024

Press Room

Economic hardship applications granted for Denver historic homeowners

Historic Denver buildings cause headache for owner

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The Denver Landmark Preservation Commission approved owners’ applications for economic hardship regarding two damaged historic homes.

This decision came after the owners requested the buildings to be demolished in June. A request that was denied.

The historic homes at 1600 Colfax Ave. and 1618 Colfax Ave. were built in 1895. Both buildings are located in the Wyman historic district.

Annie Levinsky, Executive Director of Historic Denver, Inc. explained their importance to the Denverite in a 2018 interview, stating the homes are some of the last of their kind along Colfax Ave.

The discussion on the fate of the structures has been ongoing. Community groups pushed back against the idea of demolition in 2018. At that point, the owners developed plans to restore and preserve the structures. However, they were never implemented. Construction costs increased from the beginning of the project planning in 2019 through 2022, the owners said, making the plan no longer feasible.

A fire at 1600 E Colfax Ave. in March 2024 caused significant damage to the structure. The owners said the structure was already deteriorating prior to the fire and the costs of restoration were too high.

The owners submitted applications to demolish the buildings in April 2024. After the commission denied their request, they filed appeals arguing that the cost to repair the homes outweighs the potential value after they’re restored. They claimed that the inability to demolish the buildings would cause economic hardship.

Estimates provided in the appeals state the rehabilitation of the 1600 structure reflects a negative value of $6 million, while the 1618 structure reflects a negative value of $4.1 million.

Both appeals were approved at the Commission’s Dec. 17, 2024 meeting.

Christa Swanson

Christa Swanson is a Digital Media Producer at CBS Colorado in Denver.

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Denver, CO

New Report on Potential Zach LaVine to Denver Nuggets Trade

Published

15 hours ago

December 17, 2024

Press Room

New Report on Potential Zach LaVine to Denver Nuggets Trade

Chicago Bulls star Zach LaVine has been involved in NBA trade rumors since the offseason. Several reports over the summer indicated LaVine had little to no trade value, as his contract and injury history kept teams away. Now amid a strong season, LaVine has been productive and healthy for the Bulls.

Averaging 21.7 points, 4.4 rebounds, and 4.2 assists this season, LaVine could help several contenders. Putting up these numbers on great efficiency, LaVine is knocking down 50.1% of his field goal attempts and 42.8% of his three-point attempts. On Tuesday, the Denver Nuggets were named as a team reportedly interested in adding this production to their lineup.

Oct 12, 2023; Chicago, Illinois, USA; Chicago Bulls guard Zach LaVine (8) goes up for a dunk against the Denver Nuggets during the first half at United Center. / David Banks-Imagn Images

Per Sam Amick and Tony Jones of The Athletic, the Nuggets have a “significant” level of focus on LaVine ahead of the NBA trade deadline.

Via Amick and Jones: “League sources say the focus on LaVine in recent discussions is significant, with the Nuggets interested in the 29-year-old who is averaging 21.7 points, 4.4 rebounds and 4.2 assists this season. LaVine, a two-time All-Star, is owed $43 million this season, $45.9 million next season and has a player option worth $48.9 million for the 2026-27 campaign.”

Sources, with @Tjonesonthenba: The Denver Nuggets are searching for a dynamic scorer to help Nikola Jokic. More intel here on how the Bulls’ Zach LaVine is front and center in their pursuit, with others as well. @TheAthletic https://t.co/0FogrNZGai
— Sam Amick (@sam_amick) December 18, 2024

As The Athletic noted, any LaVine trade would likely require Denver to include Michael Porter Jr. for salary purposes, which the team may be hesitant to do. That said, LaVine is a more complete scorer than Porter, and could help ease the burden on Nikola Jokic offensively.

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