Wallets will open wider this holiday season

Yes, but: They'll be getting less bang for their buck. 78% of local shoppers are expecting inflation to raise prices. Shoppers plan to buy 10 gifts on average this year, compared to 14 in 2021.

Zoom out: The Twin Cities is an outlier, as the rest of the country is expecting flat year-over-year spending.

• It's unclear from the survey why Twin Cities shoppers are saying they will spend more, given that locals are more pessimistic about their financial situation than the rest of the country (44% negative locally vs. 37% nationally).

Flashback: Matt Marsh, Minneapolis managing partner for Deloitte, notes that Twin Cities shoppers have been conservative over the last couple of years.

• COVID was surging in Minnesota last fall, forcing many families to stay home and spend less.