Twin Cities shoppers plan to open their pocketbooks for the holiday season, spending 20 percent more on gifts and entertaining this year.
A good 20 percent are likely to begin when the plates are cleared from Thanksgiving dinner, if local shoppers follow national norms reported by National Retail Federation.
A new survey from Deloitte estimates that local shoppers will spend about $1,238 per household on gifts this year, a hefty $200 more than last year.
Compared with both the national average and greater Midwestern region, shoppers in the Twin Cities are more frugal in their spending patterns, a trend consistent with last year's results.
"Midwestern values — or the cost of living here," said Matt Marsh, a lead partner in Deloitte's retail and distribution practice who is based in Minneapolis.
Thanksgiving Day shoppers this year will find themselves at the starting gate of a five-day sprint that the retail federation estimates will draw in 164 million people between now and Cyber Monday.
At the last check of the U.S. Census, that's a tidy one-half of the nation's population.
Retailers — including Minnesota giants Target and Best Buy — are gearing up for what they hope will be the busiest shopping season in a decade, as consumers feel more confident about their finances.