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Retail Series Part 1: Holiday shopping forecast

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Hold on to your wallets, this holiday shopping season is shaping up to be one for the books. JLL Research predicts consumers will spend more on their holiday gifts than ever before—a solid four percent hike in 2016 compared with 2015.

Black Friday boost

Holiday shopping

Strolling carolers at Rosedale Center

For a boots-on-the-ground perspective on Black Friday, the season’s first official shopping frenzy, we checked in with JLL’s Scott Michaelis, general manager of Rosedale Center in the Twin Cities. More than 80 retailers opted to open at 6pm on Thanksgiving, he tells us, and Thursday traffic was up 30-plus percent. Sales from key retailers surveyed were slightly up compared with 2015 with self-gifting, small gifts and sale apparel leading the way.

“We see local factors ripe for successful sales with expected gains of three to four percent over 2015. The local economy is good and unemployment rates are low, both indicators of a strong season,” Scott says.… Read More