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New survey outlines the factors driving Minnesotans' holiday shopping plans

Holiday shopping is underway, and new numbers show how Minnesotans plan to spend, and save, this season.

At the handmade gift shop I Like You in Minneapolis, co-owner Sarah Sweet is feeling the early holiday push, hearing from shoppers that don't want to get caught scrambling.

"Last year, I got caught like, it was, like, a week before Christmas, and I wasn't done. So we've had a lot of people this year being like, I just kind of want to beat the rush," Sweet said.

Deloitte's new holiday survey shows Minnesotans are heading into the season worried about the economy.

"Sixty-one-percent indicated they're worried," said Shauna Zwart, manager director at Deloitte. "They're thinking a recession may happen within the next six months, and 79% are thinking prices are going to increase this year."

Even with those concerns, spending in the Twin Cities is expected to hold steady, unlike much of the rest of the country.

"Nationally, the expected spend actually declined about 10% across the nation, whereas here in Minneapolis, we're expected to stay kind of flat," Zwart said.

Flat still means substantial. Shoppers plan to shell out about $1,700 this season, nearly identical to last year with a majority of their dollars going to big box stores or online.

What they're buying is changing, too. Over 50% say they'll give gift cards; 51% plan to give experiences; and 7 in 10 say they'll hunt for at least three different value plays, like deals or trading down in brands.

Sweet feels that focus on value at her shop, too, but she says customers also want something personal.

"People are paying attention as to where their money is going," Sweet said. "And when you can support a local business, I think it makes it a little bit more special and a little bit more joyful."

Sweet said the holiday season is "huge" when it comes to her business's sustainability.

"Hopefully people will shop the stores they hope stay around," Sweet said. "Because it's a hard time. It really is."

Deloitte also found 70% of shoppers plan to hit Thanksgiving week sales, meaning Black Friday and Cyber Monday are still very much alive.

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