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BUSINESS AGENDA

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    Generation Y still plans to spend, and the 'impulse spending' demographic likes Target, Best Buy

    By Dan Haugen | Published Mon, Dec 1 2008 10:30 am

    There's one demographic that isn't planning to spend less these holidays -- and no, we're not talking about the super-rich.

    A new poll by Maritz Research finds Generation Y (born between 1978-1989) plans to spend the same as last year, about $550.

    "This generation is known for their impulse spending and taste for fashion so they are a great target for retailers this holiday season," strategic consulting director Tom Krause said in a statement.

    Krause also attributed Generation Y's spending persistence this year to the fact they've "never really experienced a recession."

    The poll has good news for Target, too. Gen Y respondents ranked Target as their first choice among major retailers, with 67 percent saying they plan to shop there.

    Sears? Not so much. The old department store can expect to see just 13 percent of Generation Y shoppers. (And how many of those do you think will be shopping with their mothers?)

    Wal-Mart ranked second with 61 percent, followed by Best Buy at 52 percent.

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    minnpost.com/businessagenda

    Business Agenda reports on what's going on at businesses in Minnesota. Reported and written by MinnPost's Dan Haugen, Business Agenda provides brief, quick-reading items about important companies in Minnesota and the people who work at those firms. Business Agenda features new items every day Monday through Friday. 

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