Desperate to attract Christmas shoppers, most high street shops in the UK appear to have already introduced sales.
The average discount hovers around 46%.
The majority, some 72%, of the UK’s top 100 stores have promotions going amidst fears for a bleak trading period for retailers.
Marks & Spencer already has put some Christmas gifts and beauty products at half price and it is believed that it will hold a “Mega Day” sale on Saturday, offering discounts of up to 30%.
Debenhams has a half-price sale, Gap and Austin Reed are giving up to 60% off some clothing, House of Fraser has slashed some prices by as much as 75% and Argos has launched a half-price toy sale.
Such sales are the usual domain of the post-Christmas period.
Despite the bounce back in the economy, there are real concerns that high street retailers will suffer very poor sales.
Industry analysts believe that at least two more chain shops could go into administration before the year is out.
The reality on the ground indicates that predictions of increased consumer spending this Christmas were false. Household incomes still are under a great deal of pressure and the coming hikes in energy prices may have made spenders more cautious.
