NRF Says Consumers To Seek Discretionary Items

Washington, DC, Oct. 27, 2010--Luxury and department stores are expected to see increased sales this holiday season, according to the head of the National Retail Federation.

Matt Shay said consumers were still looking for value, but that they were now basing this on quality and service, rather than just price, as they had done for the past two years.

Shay also said that consumers were looking for discretionary purchases, rather than just gifts.

He noted that department and luxury stores are going to benefit more this year.

The National Retail Federation's survey on the holiday shopping season in the U.S. showed that sales are expected to rise 2.3% this year.