After solid results in October, coupled with a change in the U.S. Capitol, retailers are finally in the holiday mood. For months there was speculation that holiday sales gains would be tempered by high unemployment, rising government debt and falling consumer sentiment. Yet, with less than a week to go before Black Friday, some are expecting better results than initially expected. Comp-store gains from 2 to 4 percent are widely predicted, while new surveys from market research firms suggest consumers are less concerned about spending.

In a string of retail results for the third quarter released this week, almost all companies raised guidance, with some bullishly predicting a strong holiday. Target said its fourth quarter will be the best of any quarter in the last three years, and even Walmart which has been struggling with negative domestic sales through this year and an uneven apparel business, is expected by analysts to come out positive for holiday. At the other end of the price spectrum, analysts insist that luxury is strong.

Among the factors cited by industry executives as fueling the new consumer enthusiasm are:

• A generally higher stock market.

• Some signs of economic recovery, even though unemployment remains high.

• Retailers’ promotion-driven attitude.

• Retailers are offering more merchandise at the lower tier of their price structure, or as they prefer to say, presenting “a greater range” of products and prices for holiday.

According to Deloitte research, gift cards, clothing, computer games and smartphones rank as top gift choices this year. Households earning $100,000 and more are leading the upswing in consumer sentiment and plan to spend 77 percent more on gifts than the average. Gen-Yers plan to spend 50 percent more than the average on nongift holiday items. Also, 37 percent of this group cite careful spending throughout the year as a reason they’re hoping to spend more on the holidays. However, Boomers are most likely to spend less on the holidays [46 percent] and feel their financial situations have worsened.

Meanwhile, a national consumer poll commissioned by the International Council of Shopping Centers and Goldman Sachs, 31 percent of households plan to shop on Black Friday in 2010 compared with 26 percent in 2009. “With consumers further behind on their holiday shopping than in recent years, Black Friday shopping will likely be intense this year, as consumers shop for bargains to complete their gift lists,” Michael P. Niemira, chief economist and director of research for ICSC, said. “However, Black Friday also continues to be an opportunity for consumers to buy for themselves, as our survey found that consumers expect that about three-quarters of their Black Friday purchases will be on nonholiday items for themselves or their families, rather than gifts,” Niemira added.