Reporting Steve Murphy
MINNEAPOLIS (WCCO) — The University of St. Thomas is out with its annual holiday spending predictions and it finds shoppers to be “enthusiastic” about the upcoming season.
More than 300 Twin Cities households responded to the 11th annual holiday spending survey and the predicted increase in spending is significant.
“The spending plans are up around 10 percent in our survey,” said business professor Lorman Lundsten.
NewsRadio 830 WCCO’s Steve Murphy Reports
Lundsten says shoppers are showing an enthusiasm not seen since the recession.
According to the St. Thomas survey, the average household plans to spend $773 on gifts of various kinds and the most popular shopping venues continue to be the Mall of America and Rosedale.
Target and Macy’s tied for favorite stores, but households plan to do about 30 percent of their shopping online this year.