Given the gloomy economic outlook, fashion retailers are hoping shoppers will indulge in one or two key pieces this holiday season, even if they aren't splurging on entire outfits. Here are some of the items getting second looks:

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"A lot of people have been staying home, not going to dinner, and not going shopping," says Sarah Easley, co-owner of the Kirna Zabete boutique in SoHo in New York.

Still, 'tis the season for holiday parties.

Some customers are looking to update last year's black dress, rather than invest in a whole new look, with eye-catching shoes like Giambattista Valli's towering platform heels in fuchsia (left, $467).

Kirna Zabete, 96 Greene St., New York City.

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H&M's all-black "Divided Exclusive" collection, which hit stores this month, features corsets, dresses and leather skirts that can easily go from day to night.

The workhorse in the collection: a short, fitted tuxedo jacket ($34.90).

Wear it with T-shirt and jeans during the day, or toss it over a corset and trousers for evening, says H&M spokesperson Jennifer Uglialoro. "It covers your shoulders so you don't feel so exposed."

H&M, locations nationwide.

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Tricia Tunstall, cofounder of the boutique p.45 in Chicago's Bucktown district, expects parties will be a bit toned down this year -- so a little glitter can go a long way. Popular this season: pieces that can coordinate with several items in the closet.

The gold sleeveless top by Coley Claire (left, $288) can be dressed up with a pencil skirt or toned down with jeans and a cardigan for a house party.

p.45, 1643 North Damen Avenue, Chicago.