Christmas always comes” is a familiar expression in the retail industry that regularly surfaces at this time of year. Today, retailers and manufacturers are adding an inquisitive tenor to the expression, wondering whether retailers will actually see a lift from holiday spending or if the Grinch has another evil scheme up his sleeve.

After speaking with many retailers and industry experts over the last month, I feel confident that Christmas will come, but it will be different than it’s been in years past.

Will shoppers spend less? Judging from the numerous polls taken over the last month, the answer is “yes.” But once shoppers get into the stores, see the decorations and hear some holiday music, there’s still a good chance that they’ll loosen the purse strings. After an endless drumbeat of negative news, I think shoppers may “need a little Christmas, right this very minute.”

Gas prices are falling, which is good news, and the nation’s fixation on the presidential election is drawing to an end after what feels like the longest campaign ever. Regardless of the outcome, consumers can breathe a sigh of relief that the tension of the election has ended. Sure, the price of heating oil remains a problem; so does the nation’s rising unemployment rate. But if the stock market starts to behave more like a kiddie ride than a giant rollercoaster, shoppers will begin to spend, albeit cautiously.

Also, keep in mind that there is some pent-up demand out there. Shoppers didn’t overhaul their children’s wardrobes for back-to-school; instead, parents seemed more inclined to buy a few needed items and make do with last year’s jeans and sweatshirts. Now those items need replacing. Santa may cross the expensive piece of jewelry, the luxury handbag or the pricy electronic gadget off the list, but more practical items such as sweaters, corduroy pants and a new winter coat are likely to be found under the tree.

“Remember when warm pajamas were an after-thought?” says Marian Salzman, chief marketing officer for Porter Novelli. “They were something you picked up when you were holiday shopping, but you didn’t necessarily think of them as a gift. This year, warm pajamas are the gift.”

Salzman insists that self-indulgence is off trend; in fact, it’s chic to do without. “Now people who are carrying expensive handbags feel as though they need to apologize for doing so.” She’s predicting the big sellers this season will be fashion accessories, soup pots, blankets and items that suggest comfort.

Look for gift cards to be a top gift, too, as they make it easy to stay on budget and give a loved one something you know they’ll like.

So there’s no need to cancel Christmas. Just be open to new ways to celebrate.