Experts: Retailers discounting items ahead of competitive holiday season

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This holiday season is poised to be a competitive one for retailers.

Experts say some retailers are already discounting their merchandise. They're hoping the deals will lure customers in before the holiday shopping officially kicks off.

MORE: Consumer Alert: Which has better deals - Black Friday or Cyber Monday? 

Dr. Martin Melkonian, who teaches economics at Hofstra University, says the traditional, one-day shopping event of Black Friday has lost its luster.

Retailers are offering deals at other times, like creating other shopping events such as Small Business Saturday and Cyber Monday.

GUIDE: Stores open on Thanksgiving | Black Friday Deals

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