The recent recession may have permanently altered the money habits of a generation, which means that retailers and exchange traded funds (ETFs) may find themselves shifting to accommodate the more value-conscious consumer.

Budget shopping has become the norm. Many households will continue to be frugal even post-recession, as the culture within the United States has shifted from conspicuous consumption to budgeting, reports Help the Middle Class.

Even the high-income shoppers will become a bit more frugal, and this is projected to last even after a recovery, say economists. In general, people are valuing their dollars more than ever. Already, some ETFs are reflecting the shift and holding more value-oriented companies.

Marketers are beginning to notice this shift, and are adjusting their strategies accordingly. Procter & Gamble (PG) is taking a new approach to reducing prices on some products, while keeping shoppers paying more for items that they can present as being innovative.

Lisa Shidler for Investment News reports that an online survey of adults who make $100,000 or more showed 46% of those polled cited the economy as their top concern. This compares with 60% of respondents who worried about the economy in December, when the previous quarterly poll was conducted.

Likewise, concerns over health care and unemployment are also easing, with many respondents claiming the recession would be over by 2010. The feeling that there is more optimism in the air is great news at this point in time.

• SPDR S&P Retail (XRT): up 42.8% year-to-date

• Retail HOLDRs (RTH): up 7.9% year-to-date

Tags: Retail, RTH, Sector ETFs, XRT