Minnesota Retailers Are Optimistic About Holiday Spending After Sales & Traffic Met Expectations Thanksgiving Weekend
Trends lead retailers to be optomistic about shopper spending this holiday season
Minnesota's retailers are optimistic about shopper spending this holiday season following a Thanksgiving weekend that mostly met or exceeded sales expectations. The Minnesota Retailers Association solicited feedback from retailers around the state through an informal, non-scientific survey last week.
In that survey, 50 percent of respondents expect this holiday season to be better than last year, with the balance generally anticipating this season to be about the same as 2013. Those responses correlate with 44 percent of retailers reporting stronger than expected sales, foot traffic as anticipated, and slightly elevated online visits for the Thanksgiving weekend.
What might be fueling consumer spending this holiday season? Several retailers cited low gasoline prices as a factor in boosting the potential that consumers will spend more this year. Other factors mentioned include timely Winter weather to get consumers a gift-giving mood.