Slow growth is expected for Holiday 2011, but in this tough economy, slow growth is better than none and reason to celebrate.

Stores and manufacturers are expected to make slow, steady gains, while consumers make thoughtful purchases on quality items. Just as the "slow food" and "slow travel" movements are becoming increasingly commonplace; perhaps "slow retail" will soon emerge.

The International Council of Shopping Centers predicts holiday sales will increase 3% this year. That reflects a slower pace than the 4.1% gain in 2010, as experts predict that consumers are still worried about the economy. And it stands in stark contrast to the double-digit growth patterns retailers regularly chalked up pre-Recession.

"In 2011, shoppers will be better positioned financially to make targeted, thoughtful gift purchases where quality and product differentiation will factor more heavily this year in the buying decision," says Pamela J. Goodfellow, senior analyst at BIGresearch^® / BIGinsight^™. "That's not to say that price won't be a factor, though. Consumers are still very much cost-conscious and will still be seeking to maximize their budgets."

More than 8 of 10 consumers (81%) are "very or somewhat concerned" about a reduction in their annual household income, according to the Cotton Incorporated Lifestyle Monitor™ Survey. Women are significantly more likely than men to express such concern (82% versus 79%).

Yet more than six out of 10 consumers (64%) plan on spending the same amount of money on holiday gifts this year compared to last year, the Monitor reveals. And of those planning on buying clothes as gifts, 62% plan to spend the same amount of money this year as last.

Consumers expect to spend approximately $497 on holiday gifts, according to the Monitor survey. Apparel and toys rank highest on consumers' holiday buying lists, with an average planned expenditure of $168 and $155, respectively.

The ICSC expects November-December spending to reach $250.2 billion, the highest since the 2007 peak, when spending totaled $251.7 billion.

The National Retail Federation projects growth of about 2.8% in 2011, but as NRF spokesperson Kathy Grannis explains, the consumer purchasing mindset has evolved finding the best price to finding the greatest value. "For the first couple years after the recession, consumers were most interested in finding the best price, but now it's about getting the best bang for your buck," Grannis says. "If they have to spend a few extra dollars for something that will last, they'll do it -- if it means they won't have to go out and replace it in six months."

The Monitor finds among consumers planning on purchasing apparel gifts this holiday season, 44% plan on purchasing T-shirts, followed by jeans (34%), sweaters (28%) and sleepwear (27%). Shoppers plan to make their top clothes shopping destinations mass merchants and chain stores (60%), followed by the Internet (38%), and department stores (37%).

ComScore has not yet released its holiday forecast, but Andrew Lipsman, vice-president of industry analysis, says the firm is hopeful that double-digit growth rates will continue for e-commerce. Additionally, he expects apparel and accessories to perform in line with the total e-commerce market.

"Target has the potential to have a stronger season given its recent buzz. And Amazon should also continue to do well."

Lipsman adds that most retailers would be wise to have an iPad app because those tablet owners tend to be upper income and more likely to visit retail websites. Currently, he says, iPad traffic accounts for 97% of all tablet-based web traffic, although iPad traffic accounts for less than 2% of total web traffic across devices.

About 80% of consumers plan to use the Internet to shop for holiday gifts using a traditional computer or laptop, while 11% will use a mobile or smart phone and 7% will use an iPad, iPod or similar device, according to Monitor data.

Goodfellow says consumers will rely on electronic comparison shopping this season more than ever.

"Shoppers will be willing to do their homework before committing to a purchase; they will be conducting price comparisons online and through printed advertisement. The growing popularity of mobile devices like smartphones and tablets make this task even easier to complete," she says.

In fact, among those planning to use their mobile phones to shop for gifts this year, 82% plan to use them to comparison shop, followed by locating stores (56%), reading customer reviews (46%), and receiving text messages with special offers (36%).

More than 6 out of 10 consumers (65%) typically research gifts online before buying them in stores, the Monitor reports.

Grannis says mobile apps are a retail priority right now.

"Retailers of all sizes and market segments are trying to wrap their heads around mobile platforms to get a grip on how shoppers want to be reached through their mobile phone," she relates. "Apps have proven to be worth the effort for retailers."

In order to stretch their holiday gift budget this year, the Monitor reveals 43% of consumers will be doing more comparison shopping and shopping around for the best deals, followed by looking for deals on Black Friday and or Cyber Monday (37%), sticking to their holiday list (34%) and shopping at lower-priced stores (34%).

Online sales are heading toward $2 billion, which is one reason why Macy's is planning to hire 78,000 temporary workers for the holiday season, a 4% increase over last year.

Says Macy's CEO Terry Lundgren, "We expect additional hiring this year, given the continued sales growth in our business, both in-store and online."

Macy's projects revenue at stores opened at least a year for the second half to be up between 4% and 4.5%. That would result in the key revenue measure being up anywhere from 4.8% to 5.1%.

"We have moved quickly to establish a culture of growth at Macy's Inc., since reorganizing the company in 2008 and 2009, and yet we feel we are just beginning to take advantage of the benefits we envision.''

It is all part of the slow - but steady - growth pattern.