shopping spree

3 Houston suburbs lead sleigh full of cities with biggest holiday budgets

Folks in The Woodlands spend big bucks on the holidays. Visit Houston Texas

If you live in The Woodlands, Sugar Land, or League City, you may be making a holiday shopping list as long as a stocking and checking it more than twice.

These three Houston suburbs rank among the 10 U.S. cities with the fattest holiday budgets, according to a new study from personal finance website WalletHub.

The Woodlands ranks third nationally, at $3,073, while Sugar Land comes in fourth ($3,023) and League City lands at No. 10 ($2,778). Pearland ranks 13th ($2,669) and Missouri City appears at No. 80 ($1,499), while Houston ranks 372nd ($783).

“To help consumers avoid post-holiday regret, WalletHub calculated the maximum holiday budget for each of 570 U.S. cities using five key characteristics of the population, such as income, age, and savings-to-monthly expenses ratio,” the website says.

A suburb of Dallas-Fort Worth wraps up the No. 1 spot on the national list. Flower Mound, according to WalletHub, boasts the most Santa-friendly budget among all the cities: $3,427. Flower Mound ranked second last year ($2,973) and third in 2019 ($2,937).

Seven other DFW cities unwrap rankings in the top 100:

  • Allen, No. 12, $2,688.
  • Frisco, No. 30, $2,133.
  • Plano, No. 33, $2,044.
  • Richardson, No. 43, $1,857.
  • Carrollton, No. 56, $1,698.
  • North Richland Hills, No. 76, $1,544.
  • Irving, No. 89, $1,439.

The two biggest cities in North Texas are on the Scrooge-y side: Fort Worth appears at No. 257 ($920), and Dallas ranks 365th ($787).

In the Austin area, the holiday budgets are more on the lean side, like Santa on a diet:

  • Cedar Park, No. 48, $1,770.
  • Round Rock, No. 134, $1,200.
  • Austin, No. 188, $1,049.

Meanwhile, the San Antonio area’s two entrants on the list feel like they’ve earned lumps of coal:

  • New Braunfels, No. 196, $1,034.
  • San Antonio, No. 371, $783.

“In general, consumers are ready to spend and to have social experiences both within and outside the home. This spurs consumption in multiple categories, including food, décor, apparel, and gifts. This trend toward increased spending is mitigated by lingering COVID health concerns, including reticence to shop in physical stores, gather in groups, and travel,” Barbara Stewart, interim chair of the University of Houston’s Department of Human Development and Consumer Sciences, tells WalletHub.

The National Retail Federation predicts a record-shattering holiday season for retail sales, growing between 8.5 percent and 10.5 percent over 2020 to between $843.4 billion and $859 billion. Meanwhile, professional services firm Deloitte envisions a 7 percent to 9 percent spike in holiday spending this year versus last year. Commercial estate services provider pegs the projected increase at 8.4 percent.

“The outlook for the holiday season looks very bright,” says Jack Kleinhenz, chief economist at the National Retail Federation. “The unusual and beneficial position we find ourselves in is that households have increased spending vigorously throughout most of 2021 and remain with plenty of holiday purchasing power.”

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This article originally ran on CultureMap.

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Building Houston

 
 

A Houston startup that created a remote monitoring and care platform has raised millions in financing. Image via michealthcare.com

A virtual health care and analytics provider startup has closed its latest round of funding for a total of $27 million in financing.

Medical Informatics Corp. closed a $17 million series B co-led by Maryland-based Catalio Capital Management and California-based Intel Capital. The financing also includes an additional $10 million in debt led by Catalio through Catalio’s structured equity strategy, according to a news release.

“We are excited to have had this round co-led by Catalio and Intel Capital," says Emma Fauss, CEO and co-founder of MIC, in the release. "Catalio brings significant financial and technical resources, while Intel Capital possesses strong operational and industry experience, and we look forward to continuing to leverage both firms’ expertise as we continue to scale.”

MIC created an FDA-cleared virtual care platform, called Sickbay, that gives health care providers and hospitals away to remotely monitor patients in any setting with vendor-neutral real-time medical device integration, workflow automation and standardization.

“We have seen an increased demand for our solution as our clients face significant staffing challenges and are looking for ways to amplify and empower their workforce," Fauss says in the release. "Some of the largest health care systems in the country are standardizing their infrastructure on our Sickbayplatform while consolidating IT spend."

Other participants in the round included new investors TGH Innoventures, Tampa General Hospital’s innovation center and venture fund, and Austin-based Notley — as well as existing investors San Francisco-based DCVC, the Texas Medical Center, and nCourage, a Houston-based investment group.

As a part of the round, two individuals from Catalio will join the board at MIC. Jonathan Blankfein, principal at Catalio will join the board of directors, Diamantis Xylas, head of research at Catalio, will join as board observer.

“Health care systems’ need for high-caliber, cost-saving, data-driven technology is only going to increase, and MIC’s proprietary platform is perfectly positioned to address some of the most critical clinical challenges that health care organizations face,” says Blankfein in the release. “We look forward to continuing to support MIC’s strong team as it continues to deliver better outcomes for health care organizations and patients alike.”

Amid the pandemic and the rising need for remote care technology, MIC scaled rapidly in the past two years. The company will use the funding to continue fueling its growth, including hiring specialized talent — deep product specialists and client engagement teams — to support long-term strategic partnerships.

“One of the main barriers to advanced analytics in health care is the siloing of data and today there is a significant need for a platform to enable flexible, centralized and remote monitoring at scale and on demand,” says Mark Rostick, vice president and senior managing director at Intel Capital, in the release. “Medical Informatics is setting a new standard of health care by removing these data silos for health care providers of all sizes and transforming the way patients are monitored from hospital to home with real-time AI.”

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