The recession taught consumers to be cautious and frugal with their money. Fortunately for businesses, the economy is turning around and consumers are beginning to open their pocket books. According to new data from the National Retail Federation, Americans are becoming more generous with their spending habits, even with small luxury items.

As the economy is once again influencing the holiday shopping season, both consumers and retailers are looking to see how they can come out ahead. To give you a better understanding of the situation, Reporter Abby Johnson continues to explain the top 10 trends in this video report, as compiled by Phil Rist of BIGresearch and Ellen Davis of the National Retail Federation. Watch this SmallBusinessNewz report for complete explanations for these trends.

According to the National Retail Federation’s 2009 Holiday Consumer Intentions and Actions survey, the economy will once again largely influence this year’s holiday shopping season. The survey, conducted by BIGresearch, had major findings relating to consumers and retailers. To learn more about what to expect this season, tune into this video right here on SmallBusinessNewz.