THE DAILY TELEGRAPH: High street shops have started slashing prices early in a bid to entice shoppers to spend money after a renewed slump in consumer confidence.
An unseasonably warm November has also left many stockrooms stuffed with unsold winter clothes with just a month to go until Christmas.
Retailers such as Debenhams, New Look and Currys are among the chains cutting prices heavily this weekend as they try to drum up business in the run-up to Christmas.
Debenhams, for example, has reduced the price of all hats, coats, scarves and gloves by 30 per cent. It is also selling many of its cosmetic ranges at “duty free prices”, with discounts of up to 15 per cent.
It is unusual for so many retailers to be offering money-off discounts before December has even started. High street experts say that there is far more discounting than there was last year.
Matthew McEachran, a retail analyst at Singer Capital Markets, the stockbroker, said: “There is absolutely no doubt that the money-off promotions are coming thicker and deeper than last year.” Read on and comment » | James Hall, Consumer Affairs Editor | Thursday, November 24, 2011
