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.

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.