Preparing for Holiday Shopping

A new holiday spending survey shows consumers plan to spend about $500 on average for gifts this year, with Black Friday and deep discounts being more important this season than any other.

Christmas decorations are already up and Black Friday sales are sweeping across the racks.

Linda Soucy a manager at Sears says, "It's a new way to get customers thinking a little earlier about the holidays, and hopefully helping their budget a little bit, so they can spread it out over Nov. and Dec."

Stores across the country are slashing prices and offering new deals to jump start the season.

"This year we're running buy one get one off the whole store, where as last year it was just kind of our casual wear.  So they're really taking the economy and people really wanting to spend responsibly into consideration," says Sheena Faiman, a manager at Maurices.

Sears is also offering a new Christmas Club Card.  Think of it as a shopping 401k, the store will match some of the money you put away.

"It's a re-loadable gift card the customer can purchase before Nov. 14.  On the 25^th, three percent will be added by Sears onto that gift card.  So they are basically earning interest on that gift card and then they can use it for their Christmas shopping," says Soucy.

A new shopping survey has found that 16 percent of shoppers will begin their gift hunting on Black Friday, the highest number since 2005.

But, stores are already noticing customers are coming in earlier.

"People are spreading their Christmas shopping out a little bit, trying to get the best deals instead of waiting for the last month,” says Faiman.

So, experts say now is the time to implement a holiday shopping strategy.

"Those impulse purchases drive up costs outside the budget and they often go on the credit card then you have gloom and doom in Jan.," says financial manager Curt Davis.

Davis says start with a budget, write down every item you intend to buy, and then the hardest part stick to your plan. 

And with sales like these, a Christmas tree won't be the only green you take home over the holidays.

So what will consumers be buying?

The shopping survey found clothing will be the main gift of choice, followed by toys and games.

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