The Consumer's Attitude
Despite the upturn in the economy, people are still cutting back and certain retailers are feeling the pinch.
When it comes to spending money on non-essential items such as clothes, jewelry and accessories most people are still looking for a good deal. As a result stores such as Ross and Marshalls are performing well. High end retailers such as Tiffany and Nordstrom are seeing a decline.
Experts say while people feel more confident with their money and are more willing to spend it the items they are shelling out for have changed. Now it's about their cars, homes or experiences. People want to spend money on items they will have for a long time and will offer up a return on the investment. That means automakers, hotels, casinos and resorts are seeing an increase in spending while others wait for people to come through the door.
But experts say the trend could shift again. As people take on debt because of the more expensive items they will once again resort to picking up a new shirt or necklace; especially if they're on sale.