NEW YORK - DESPITE US retailers' parade of deep discounts and limited-time deals, the average consumer has completed much less of their holiday shopping than in previous years, according to a survey released on Tuesday by the National Retail Federation.

In a sign that consumers are taking a more practical approach to the holidays, Wal-Mart Stores Inc released data from a separate survey showing shoppers may look to use holiday gift cards for everyday needs, such as buying groceries, instead of splurging on wants.

Wal-Mart's survey of female shoppers found nearly 70 per cent of respondents would like to receive a gift card so they could choose their own gift. Nearly half of those asked said they would like a gift card for groceries.

The data come as retailers, facing what could be the weakest holiday shopping season in nearly two decades, have been slashing prices to try to entice spending. More price cuts may be needed to win sales closer to Christmas.

The NRF survey found that the average person had finished 47.1 per cent of their holiday shopping by the second week of December, about 10 per cent less than last year.

The survey also said 41.2 million people had not yet started holiday shopping, up from 35.1 million last year.

The delay comes from consumers seek steeper price cuts closer to Christmas and a shortened holiday shopping period, NRF spokesman Ellen Davis said.

'There are five fewer days between Thanksgiving and Christmas this year compared with last year. Christmas is sneaking up on consumers who shopped during the Thanksgiving weekend, but have since taken a breather,' Davis said.

'The economy is the overriding factor of the holiday season this year,' she said. 'And the shorter holiday is throwing an extra wrench in things.'

Avoiding credit cards, favouring cash
The NRF survey also showed customers are trying to stick to their budgets by avoiding credit-card fueled splurges.

Two-thirds of shoppers said they have primarily used cash, debit cards, or checks to pay for holiday purchases, up from 64.5 percent last year.

While gift cards are the most requested gift for the holidays, the NRF survey found only 24.3 per cent of shoppers have purchased gift cards this holiday, down from 30.2 per cent who had done so by this time last year.

Wal-Mart said that starting this week, it would offer shoppers bonus gift cards when they purchased select items. For instance, a shopper who buys a Sony Blu-ray DVD player at Wal-Mart for US$298 (S$450) would also receive a US$50 bonus gift card.

Those so-called bonus gift card could help shoppers stick to their limited budgets. Wal-Mart said that nearly 30 per cent of those asked said they would consider re-gifting a such a bonus gift card.

Wal-Mart said its survey, conducted by BIGresearch, polled more than 300 women across the country this month. The respondents had shopped at Wal-Mart over the past three months.

The NRF said its survey, also conducted by BIGresearch, polled 8,860 consumers between Dec 2 and Dec 9. -- REUTERS