"In this jobless recovery, consumers continue to be really mindful around consumption," James Russo, VP/ Global Consumer Insight for Nielsen, tells Marketing Daily. "While there are a couple of exceptions, consumers on the whole are still very restrained."
One exception, he says, is likely to be consumer electronics, "including next-generation cell phones, iPads, and new computers." But it's not because parents see themselves as splurging, he says, "but that these are now viewed as necessary, not discretionary."