Happy Holidays for Target, Wal-Mart: Report

NEW YORK (TheStreet) --Target(TGT), Wal-Mart Stores (WMT) and K-Mart, are topping this year's list of go-to destinations for holiday shopping, according to a survey released by Citigroup.

And with a whopping 70% of those surveyed citing price as their main motivation for choosing where to shop, it is, of course, no surprise that discounters reign supreme.

In fact, 80% of the survey's respondents said they require at least a 10% discount in order to justify making a purchase.

And not only are discounters wallet-friendly, they are also stocking some of this year's most popular gift-giving items, like children's toys, LCD televisions, GPS Navigators, Apple(AAPL) iPod touch, digital cameras and gift cards.

Both Wal-Mart and Target have significantly lowered prices on their toy offerings, a category more than half of the respondents plan to purchase. Wal-Mart will be featuring 100 toys for just $10 during the holiday shopping season.

Department stores like Kohl's(KSS), J.C. Penney(JCP) and Macy's(M) also promise to be popular this holiday season, with 56% of those surveyed saying they will shop these locations.

Shoppers say Macy's is a Must

Department stores could benefit from the slow return of apparel and accessories -- specifically denim, bags and shoes and boots -- which, according to the survey, rank as "hot" holiday items.

In addition, online retailers like Amazon.com (AMZN)are also poised to pick up market share, with 80% planning on making at least one purchase online.

It will not, however, be a Merry Christmas for all. Drugstores, which are seeing a boost during flu season, apparently won't be as lucky come the holidays. According to the survey, only 22% are planning on shopping at places like Rite Aid(RAD), CVS Caremark(CVS) and Walgreen(WAG).