Twin Cities shoppers plan to boost their holiday spending on gifts by roughly 10 percent this year, according to the University of St. Thomas 11th annual Holiday Spending Sentiment Survey.
The Business Journal reports the survey found that the average Twin Cities household plans to spend $773 on gifts this holiday season, compared to $703 last year. It's also close to the 10-year high of $796 predicted in 2004.
The 2012 University of St. Thomas survey, which sampled 304 households in the 13-county Twin Cities area, also highlights the most popular gift categories, malls and retailers.
"We're not saying that the world is totally rosy," Lorman Lundsten, a St. Thomas marketing professor, told the Pioneer Press. But as folks gain confidence that their jobs and families are secure, "Now people are saying, 'We might as well move forward and have a regular Christmas.'"
Last month, Deloitte’s 27th annual holiday survey showed shoppers in the Twin Cities plan to spend roughly $430 on gifts this year, or about three percent more than last year.