Pre-Black Friday Deals Heat Up at Big Retailers

BENTONVILLE, Ark. (TheStreet) -- Amid old stories of illuminated flying reindeer, Frankenstenish snowmen and 300-pound home invaders who squeeze through chimneys, the one about the holiday shopping season once beginning on "Black Friday" after Thanksgiving may be the least believable.

As parents tell children about a simpler time when drunken angels saved Jimmy Stewart from suicide and stores didn't stock candy canes until November, the reality is that retailers will need a bag of tricks bigger than Santa's to keep consumers occupied this year. Wal-Mart Stores(WMT Quote) says 55% of shoppers surveyed start budgeting for holidays in August, and the National Retail Federation says 40% of Americans had planned to start their holiday shopping before Halloween.

Black Friday-style sales began for retailers like Amazon(AMZN Quote), Sears Holdings(SHLD Quote) and Target(TGT Quote) weeks ago. With 30% of shoppers surveyed by NPD Group saying they planned to spend less this year than last year, some retailers' seasons and discounts began as early as July. The NRF predicts holiday spending to drop 1% this year, after increasing 4.4% last year. ...