Black Friday, Coming Soon

Breaking news alert: Thanksgiving is NEXT week. That's right, next week. And we all know what the onset of Thanksgiving means, don't we? It's the big kick-off for the holiday shopping season. Black Friday here we come!

To prepare us for the big season, the National Retail Federation (NRF) released their 2008 Holiday Consumer Intentions and Actions Survey, conducted by Worthington, Ohio-based BIGresearch. The survey of 8,758 consumers found that 72 percent of shoppers have completed less than 10 percent of their shopping and only 2.2 percent have completely finished.

At least, I'm not alone. I've purchased two gifts and they're both books. And this brings me to the next part of the survey--what we'll be buying...

According to NRF, consumers' purchases will be divided up as follows:
-57.4 percent on clothing and accessories
-55.6 percent on books, CDs, DVDs and video games
-53.5 percent on gift cards
-41.6 percent on toys
-30 percent on consumer electronic items
-20.8 percent for personal care/beauty items
-19.3 percent on jewelry

But, just how will we pay for these lovely gifts? The question of payment is one of the main concerns for retailers and consumers alike. Fortunately, Americans are getting smart and ditching their credit cards (the exorbitant interest rates are no doubt to blame!). The survey revealed that 41.5 percent of consumers will use their debit card, while 22.8 percent plan to pay with straight cash.

With Black Friday right around the corner and this new NRF data in tow, enjoy that turkey on Thursday the 27th, because the 28th is going to be BIG!

What's your favorite holiday gift to purchase or receive? How will you pay for the holidays this year? Share your favorites here!

--Heather Strang