This holiday season, shoppers are expected to spend less. The average amount per person has dropped from $719 to just over $704, according to the National Retail Federation.
"We won't be doing as much. Everybody is struggling a little bit right now," says Terri Evert.
The NRF reports that about a fourth of shoppers are going to have a thrifty holiday season. And many have already started bargain hunting.
"I started my holiday shopping about two months ago. I'm trying to get some bargains that's going on right now at some of the different stores. I watch for the Sunday ads in the paper and then I start comparing there and I'm the same way with my groceries. I'm a bargain shopper," comments Sharon Blackburn.
Because people are being more frugal with their money, retailers are offering even bigger deals. Monday, Walmart announced its new strategy the "Christmas Price Guarantee." Shoppers who buy something at a Walmart store between November 1st and December 25th, but then find the same product elsewhere for less, can get a gift card in the amount of the difference. The offer excludes all items bought on Walmart's website and some others, such as groceries. Shoppers say this is what they'll be searching for this shopping season.
"It's all about competition and I think the industry needs to recognize that. We're still looking for quality. If Walmart, who is known for quality and the quality is equal and that's going to be incentive for me to go there," explains Patricia Hayden.
Another way retailers are trying to attract shoppers is with layaway programs, it allows you to save the money that would normally go towards paying credit card interest. Walmart, K-Mart, Sears, Target and Best Buy are just a few stores that offer a layaway program.
