Christmas consumers have been seen in their hordes on Britain’s high streets after it was revealed major retailers are slashing their prices by up to 80 per cent.
Thousands of people were pictured braving the cold and wet weather to grab gifts for their loved ones in London and Manchester on one of the busiest shopping days of the year.
Experts are predicting more bargains for shoppers in the coming week than on November’s Black Friday as major stores such as Debenhams, House of Fraser, Gap, Boots and Argos all launch promotions.
It’s almost as if the January sales have already hit the high street as prices on clothes, shoes, toys and electricals are all tumbling. Debenhams is running what it calls the ‘Big Gift Event’, House of Fraser has its ‘A Very Merry Sale’ and Argos has a ‘£40million Christmas Clearance’.
London’s Oxford Street busy with shoppers today as consumers get their gifts one week before the Christmas holidays
Experts are predicting more bargains for shoppers in the coming week than on November’s Black Friday as major stores such as Debenhams, House of Fraser, Gap, Boots and Argos all launch promotions. Pictured: Oxford Street this afternoon
A shopper browses a stall selling Christmas items on Market Street in Manchester this afternoon
Cold and wet weather doesn’t keep shoppers away from Manchester city centre on one of the busiest shopping days of the year. Pictured: Families browse Christmas stalls in Albert Square
John Lewis has also been dragged into the price-cutting, particularly on beauty and perfume gift sets, under its ‘Never Knowingly Undersold’ price promise.
Major chains are promoting savings of ‘up to 50 per cent’, however, a snapshot survey earlier this week found some products are more than 80 per cent off the list price.
Debenhams had KG Kurt Geiger Misha espadrille shoes down from £110 to £19 – a saving of 82 per cent. There was also a Sistaglam Black Maya maxi dress with an 80 per cent saving, bringing it down to £20, and Silver Goddess high heel sandals by Carvela down by 79 per cent to £29.
Accountants PwC, which surveys the promotions offered by high street chains ahead of Christmas, is predicting big reductions to kick in over the next week.
Its consumer markets leader, Lisa Hooker, said: ‘As we approach Christmas, we are already seeing an uptick in promotional activity as retailers try to attract customers and clear festive stock, particularly as last week’s snow and ice put a dent on high street footfall across large parts of the country.
‘Last year, 98 per cent of the online retailers we surveyed had some kind of homepage promotion in the week before Christmas.
Major chains are promoting savings of ‘up to 50 per cent’, however, a snapshot survey yesterday found some products are more than 80 per cent off the list price. Pictured: Shoppers on Oxford Street
A Christmas shopper carries several large bags on Oxford Street after shopping at John Lewis
Amid predictions that consumer spending across the festive period will be down for the first time in five years, retailers are trying to increase their market share with eye-catching offers
A choir of carol singers spread Christmas cheer in Manchester’s St Ann’s Square this afternoon
‘We are expecting to see more bargains for shoppers in the coming week, with more retailers on promotion next week than over Black Friday.’
Amid predictions that consumer spending across the festive period will be down for the first time in five years, retailers are trying to increase their market share with eye-catching offers.
H&M is cutting back its plans for expansion after recording its biggest decline in global quarterly sales in ten years. The fashion retailer said it would now be opening fewer branches and closing some existing stores after sales since September slipped around 4 per cent year-on-year.