Daily Mirror (Northern Ireland)
Christmas comes early for high street bargain hunters
Shops slash prices to shift stock
THE high street is set for a cut-throat Christmas as stores drop prices by a record 44% in a bid to boost sales.
They could fall by more than 50% on average by Christmas Eve for the first time ever, experts say.
The cuts are 0.2% deeper than the same time last year.
Some products are down by 78%, with clothing and accessories the best bargains around.
Deloitte analyst Jason Gordon said: “Retailers have faced a challenging year, as consumer confidence has continued to fall amidst economic uncertainties.
“Black Friday means that consumers now expect an increasing amount of prechristmas discounting.
“The result is a blending of promotions, and a steady price decline rather than a steep Boxing Day drop, reminiscent of Christmases past.”
Prices have been slashed by up to 60% at chains such as Gap with half-price deals also at Topshop and Debenhams.
Suits are down by more than 50% at
Burton. And Habitat launches its sale today with up to 50% off many items.
Boxing Day sales may come forward to Christmas Eve.
Mr Gordon added: “We anticipate many Boxing Day discounts to go live online on Christmas Day. On the high street, promotions could arrive earlier.”
Another study found shoppers blew £2.1billion on Black Friday deals. Research by Retail Economics and Klarna found more than one in five people snapped up gifts, spending an average of £179.
But that splurge could force shops to cut prices more. Richard Lim, chief executive at Retail Economics, said: “A successful Christmas hangs in the balance but more clarity over Brexit and UK politics may give the industry some festive cheer.”