Minnesota Retailers Report Good Crowds Thanksgiving Weekend
Retailers Remain Cautious About Holiday Spending
National reports from Thanksgiving weekend concluded traffic was up at retailers across the country, however there was a slight dip in spending--largely attributed to strong retail competition including deals and "doorbusters". The National Retail Federation reported consumers spent $407.02 from Thanksgiving through the weekend, down from $423.55 a year ago.
In an unscientific survey of members, the Minnesota Retailers Association (MnRA) found that 55 percent of retailers saw more customers walking through their doors than anticipated, with another 30 percent seeing the level of traffic they expected.
Also in good news for Minnesota's economy, 45 percent of retailers reported more sales Thanksgiving weekend over the same period last year, along with 22 percent saying the two years were about equal.
Despite reports of strong traffic and sales, retailers in Minnesota are cautious when it comes to the economy and consumer spending around the holidays. Fifty-five percent of retail respondents anticipate this year's holiday season sales to match last year's, and 20 percent said they anticipate sales to be less. Only 20 percent of retailers expect sales to be above the 2012 holiday season level.