Annual survey finds Twin Cities holiday shoppers in an enthusiastic mood this year
Wednesday, November 14, 2012
Equipped with 11 years of research data, University of St. Thomas marketing professors find the mood of holiday shoppers is close to pre-recession levels.
Twin Cities holiday shoppers appear to be in an enthusiastic mood not seen since the recession, according to research conducted by marketing professors at the University of St. Thomas.
The 11th annual University of St. Thomas Holiday Spending Sentiment Survey has been conducted in late October since 2002 and provides more than a decade’s worth of longitudinal data on Twin Cities holiday shopping trends.
The survey measures the intent of Twin Cities shoppers: how much they think they will spend for holiday gifts, what they will spend it on, and where they will spend it. The research is conducted by Dr. Lorman Lundsten, Jon Seltzer and Dr. John Sailors of St. Thomas’ Opus College of Business.
According to the survey, household spending for holiday gifts is predicted to be 9.95 percent more in the Twin Cities this year than last. Data shows that a decline in holiday spending began in 2007, but was especially pronounced in 2008 when shoppers said they were trimming budgets by more than 10 percent. The turnaround began in 2010, with a predicted 8 percent uptick, and continued in 2011 with a predicted 3.4 percent increase.
University of St. Thomas Press Release, 11/14/2012