In case you missed ABC’s Good Morning America Tuesday morning, I was interviewed in a consumer piece about all the uber-hot incentives available this holiday shopping season. Indeed, it appears retailers are pulling out all the stops this time of year, offering radical incentives, hoping to keep their head above water. November and December are the two most financially critical months for many stores – especially those hanging by a loose thread — during which they aim to earn up to 40% of their annual revenue.

But this season, with nationwide holiday sales forecast to be the lowest level in nearly two decades stores are ramping up their deals, discounts and after-hour door-busters. Market research firm TNS Retail Forward expects sales will rise just 1.5 percent in the fourth quarter – the tiniest gain in some 17 years, due to rising unemployment, the weak housing market and consumers trying to avoid piling on more debt.

INCENTIVES RUN THE GAMUT
Various businesses from clothing retailers to department stores, electronic chains, credit card companies and car dealerships are ramping up their holiday sales perks. Thirty to 50% discounts at all types of stores from discount chain K-Mart to upscale department store Nordstrom’s several weeks before the end of the shopping season are just the tip of the incentive iceberg. Retailers like Gap and Bloomingdales extended their employee discounts to friends and family and Best Buy is throwing private after-hour parties for certain customers.

Buy-one-get-one deals are more abundant this season, too. BOGOs, as they’re called, have been spotted at numerous clothing stores including teen apparel chain American Eagle Outfitters and outdoor clothier Eddie Bauer. Plus, AT&T is offering a limited-time buy one phone get one free sale after a mail-in rebate which includes the Samsung Propel handset and a Pantech Matrix handset. (You have to sign a two year contract.) But these deals are not just limited to phones and clothes. A Dodge dealer in Miami tells the New York Daily News he offered a buy-one-get-one free auto deal recently.

Layaway plans are also back in action. After almost two decades Sears is reintroducing its lay-a-way program this holiday period, which lets customers place an item on hold and pay for it in installments, interest-free. Once you’re done paying, you can take home the item. Wal-mart and TJ Maxx also offer layaway programs.

Gift cards are being used as bait, as well. Costco is selling $100 worth of Starbucks gift cards for $80, while other stores are giving away free loaded gift cards after purchasing more than a certain amount in their stores. Still, another retailer is giving you a discount just for tossing an old gift card. At participating Brookstone stores, the specialty electronics chain, customers can receive a one-time 15% discount off their entire in-store purchases when they bring in and relinquish gift cards from any other retailer. Here’s the best part – the gift card being redeemed doesn’t have to have any value remaining on it. The offer does not, however, extend to the purchase of Brookstone gift cards and products from Bose, Sony, Panasonic, Celestron, Power Plate, Tom-Tom, Canon, and Tempur-Pedic.

Credit card companies are getting in on the giveaway blitz, too. American Express is throwing in $15 gas cards and 25% off Avis Rent A Car rentals when you buy three American Express gift cards of any value. (Denominations range from $25 to $500). Participating malls are also giving out $20 Discover gift cards for every $200 you spend with your Discover card.

STAY FOCUSED
Buyers beware. With all these deals right now it’s tempting to scoop up items you don’t really need just because it has a big fat 50% off sticker. You risk exceeding your budget, which is what retailers are praying you’ll do. But outsmart ‘em. Target your purchases at the stores offering the best discounts for the items on your list. You may be able to check everything off and walk away with cash in your wallet. With the average shopper budgeting to spend an average $800 this holiday season, according to the National Retail Federation, and most places boasting discounts of 25% or more, you can potentially save at least $200 – a sweet savings and perhaps one of the best presents you can give yourself and your family.