PHILADELPHIA (CBS) – With the start of the holiday shopping season fast approaching, more than 164 million consumers are expected to shop during Thanksgiving weekend.

According to the annual survey by the National Retail Federation or NFR, 69 percent of Americans — an estimated 164 million people — are planning to shop or considering shopping over Thanksgiving weekend and Cyber Monday.

Holiday Mall Hours 

Of those shopping, about 20 percent plan to shop on Thanksgiving Day, 70 percent plan to shop on Black Friday, and 48 percent are expected to shop on Cyber Monday.

More than half of those planning to shop say they are doing so to take advantage of deals and promotions.

The survey found 56 percent of Americans have already started their holiday shopping, but only 2 percent have finished all of their holiday shopping.