Good News For Holiday Shopping
UNDATED (WJON News) - A new survey reveals good news for area retailers – holiday shoppers are not deterred by inflation and the cost of living.
A new survey by consulting firm Deloitte polled 452 shoppers in Minnesota.
They found 74% of shoppers will spend more or the same amount of money on this year’s holiday shopping as they did last year.
Some of the highlights of the survey:
- Holiday spending includes gifts and “experiences” (concerts, trips, etc.).
- 44% of respondents believe their financial situation is more precarious than last year.
- 70% of Minnesota shoppers will make their purchases in the last half of November and in December.
- 53% will shop during Thanksgiving week, especially Black Friday and Cyber Monday.
In one unique finding, the survey reported, compared to the U.S. as a whole, that more Minnesota shoppers prefer mass merchants and online retailers. The survey was quick to point out that major retailers like Target and Best Buy headquartered in the state, along with cold winters, may explain the higher preference.