The study runs counter to generally cheery expectations for the industry from such organizations as the National Retail Federation.
Shoppers will spend an average total of $779 per Twin Cities' household, according to the University of St. Thomas Institute for Retailing Excellence, which conducted the study. That is down $13 per household, or 1.6%, compared to survey results from a year ago. Respondents who said they plan to spend less cited, as reasons, money concerns or changes in their families.
About 35% of the respondents said they plan to spend less than a year ago, while 9% said they plan to spend more on holiday presents this year. The rest said they plan to spend about the same as they did last year.
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