HomeMy WebLinkAbout2014 11-20 Survey: Twin Cities consumers plan robust holiday spending PIONEER PRESS Survey: Twin Cities consumers plan robust holiday spending
Updated: 11/19/2014 09:12:43 PM CST NOV 2 0 �014 TwinCities.com
• Nov 17:
• Regional malls tweak all-night hours ahead of Black Friday
• Nov 12:
• Mall of America embraces Thanksgiving, Black Friday shopping in a big way
• Walmart holiday deals offered on rolling basis
• Nov 11:
• Best Buy's Black Friday hours, specials set (on Thursday)
• Five reasons why Black Friday keeps starting earlier
• Nov 10:
• Target teasing its Black Friday deals
• Kohl's joins retailers opening Thanksgiving Day
Twin Cities-area shoppers are in a jolly mood, planning to increase their holiday spending by 3.7
percent this year, according to an annual survey released Wednesday.
The University of St. Thomas survey predicts holiday spending will hit its highest level ever in the
Twin Cities area, with the average household expecting to lay out $868 on gift cards, electronic
gadgets and other presents.
"Our data tell us that consumers are ready to buy," said Dave Brennan, a retailing specialist at St.
Thomas' Opus College of Business, citing the low unemployment rate and the benefits of lower
gas prices.
The annual survey also found that Mall of America remains the No. 1 destination for holiday
shoppers in the Twin Cities, followed by Rosedale Center, Southdale Center, Eden Prairie Center,
Ridgedale, Burnsville Center, the new Twin Cities Premium Outlets in Eagan, Woodbury Lakes,
Arbor Lakes and Maplewood Mall.
Downtown Minneapolis ranked 12th and downtown St. Paul ranked 16th and last.
The St. Thomas survey also shows the growing popularity of online shopping. Shopping malls are
still very popular, but they're losing a bit of their lock on holiday shoppers as online shopping
continues to expand.
"There are so many more places to shop now," Brennan said in a statement. "There are the
smaller lifestyle shopping centers, and of course the Internet, which now attracts a third of all the
shopping dollars spent by Twin Cities residents.
Rosedale Center in Roseville ranked first when consumers were asked where they'd buy most of
their holiday gifts, followed by Mall of America, then Ridgedale, Eden Prairie Center and
Maplewood Mall.
The No. 1 gift this year? As usual, it's gift cards, followed by clothing, then cash, the survey said.
But travel moved up the rankings this year, along with computers and cellphones.
The St. Thomas forecast for the Twin Cities is roughly in line with national holiday forecasts, most
of which are estimating a sales increase in the 3-percent-to- 4.5-percent range.
The survey of 306 consumers in the greater Twin Cities area is conducted online by four St.
Thomas faculty: Brennan, Lorman Lundsten, Sandra Rathod and Jonathan Seltzer.
Follow Tom Webb at twitter.com/TomWebbMN.