There will be a tad more cheer in holiday gift-giving this year, although shoppers are still likely to hold out for the best deals they can find, experts say. Affluent shoppers and those in their 20s seem to be shaking off the lingering effects of the Great Recession, while baby boomers are still leery about pulling out their credit cards or dipping into their wallets for extravagant gifts. 'We're seeing a little bit of an uptick over last year,' said Jackie Fernandez, a retail partner at the Los Angeles office of business services firm Deloitte who has been forecasting holiday sales. 'This time last year we were really gloomy going into the holiday season,' she said. 'I think things have somewhat stabilized and I think we're seeing consumers feel more confident in their job situation. But when you think back to some of the glory years we've had, we're nowhere near that.' Reseda resident David Ramirez, 21, is among those in the younger generation who are more optimistic about the economy than their older counterparts. Ramirez, who was doing some pre-holiday shopping at the Westfield Topanga mall on Friday, plans to spend about $500 on gifts. 'I do see things getting better,' said Ramirez, who works in sales for DirecTV and is a junior studying business finance at California State University, Northridge. 'I see a lot of new stores opening.' Spending this season in the Los Angeles area should increase 3 percent from 2009's dismal total, said Jack Kyser, consulting economist at the Southern California Association of Governments. Last year's results were extremely disappointing, Kyser said, as fourth quarter retail sales plunged 14 percent to $18.2 billion from $21.3 billion in the final three months of 2008. 'It was not a pretty sight. Even though we are looking for an increase this year not all retailers are going to participate, and at the end of the season you will probably see some of the smaller merchants unfortunately close their doors,' he said. Value retailers and higher-end stores should do OK, but stores in the middle like department stores will continue to get squeezed, he said. But there are positive signs that the economy is rebounding. Orange County is now adding jobs and Los Angeles County should soon see job growth return. Sectors here showing positive trends are motion picture and television production, tourism and travel, the ports and professional services. 'There are more signs of life now in the local economy. The malls seem to be busier and people are carrying bags,' Kyser said. The Deloitte study found that two-thirds of consumers surveyed said their financial situation is the same or better compared to this time a year ago, and 62 percent plan to spend the same or more on the holidays compared with 2009. But half of them believe the economy is still in recession or heading back into one. West Hills resident Tom Roe, 68, who was shopping Friday at Westfield Topanga to replace a broken Apple iPad, said his holiday strategy traditionally involves deciding what to buy first, then checking prices online before going to stores in person. And he's not too confident about the economy. 'I don't see that it's getting any better and I see prices rising,' said Roe, a retired advertising salesman. 'If we are in a recession, why are we paying more than before? That bothers me. We'll shop very carefully.' Age and tax brackets will also influence shopping habits. Of those earning $100,000 or more annually, 45 percent feel the economy will improve in 2011, versus 39 percent of the overall population. Seventy percent of this group plan to spend more or the same as last year, higher than the 62 percent figure for all respondents. This higher-income segment plans to spend $826 on gifts this year, much more than the overall national average of $466. Generation Y, ages 18 to 29, will focus on holiday cheer more than gifting. Seventy two percent plan to spend the same or more on the holidays. They will spend $355 on gifts, 24 percent lower than the national average. But the good times will roll as Generation Y is expected to spend $1,035 on nongifting holiday activities, more than all other age groups. Boomers, ages 46-64, are the gloomiest and appear most affected by the economy. They believe their household situation has worsened and will spend less this holiday season, shopping primarily at discount or value stores. They'll spend $468 on gifts this year. Some retailers are hopeful and others are cautious about what the coming weeks will bring. 'We're very optimistic. We've been seeing that there is more traffic in the stores and people seem to be more upbeat,' said Jennifer Gordon, spokeswoman for Caruso Affiliated, which operates six malls in the San Fernando Valley area. She said that all the properties still had year-over-year holiday sales gains during the recession, but she declined to give specific numbers. The Westfield Group, which operates four malls in the San Fernando and Santa Clarita valleys, opened a $130 million addition to its Westfield Town Center in Valencia on Thursday. 'Although cautious, we are optimistic about the holiday trading season this year,' spokeswoman Katy Dickey said in a statement. 'Customer traffic and enthusiasm in the Valley/L.A. market region is very encouraging, continues to build, and our retailers are working hard to make this holiday season a success.' 