November 20, 2008 Shoppers bombarded with sale offers Play video

(Latoyia Edwards, NECN) - Retailers have wasted little time in showering shoppers with discount offers, hoping to recoup some of the sales they are sure to lose to a struggling economy

Even before the turkey hits the table, consumers can see the sale signs everywhere.

Last year, the average consumer spent more than $900 on holiday gifts. This year, consumers plan to spend $700.

The $200 drop on the shopping budget has spawned a "sales battle" for customers. For example, one can find 60-percent off deals on items from JC Penney jewelery to KB Toy Store gifts for children.

So far, the deals have not been enough to counteract the belt tightening in this tough economy.

A recent retail survey found 43-percent of shoppers are willing to wait until after the holidays in hopes of getting the best deal on merchandise.

NECN's Latoyia Edwards has the story in the video player above.

For more ways to "cut your costs", visit our blog NECNCutYourCosts.com.