Early sales entice shoppers
Updated on 20 November 2008
Consumers have been tempted back to Britain's high streets as major retailers slashed prices in a pre-Christmas bid to breathe life into the ailing market.
Marks & Spencer stores were inundated with customers cashing in on a 24-hour 20%-off sale - the retailer's biggest one-day promotion for four years.
Widespread price-cutting on the high street comes as retailers voice concerns that trading this Christmas could be the worst for many years.
M&S executive chairman Sir Stuart Rose said of the sale: "It seems to have touched the spot. It's a riot."
An M&S spokeswoman said: "It is busy out there. Customers have responded really well and they're flooding in to stores. We've brought in loads of extra staff."
Customers appeared to be spending most on Christmas gifts, wine and champagne, although "self-spending" items such as leather bags and cashmere jumpers were also selling well, she said.
Retail giants Debenhams and Bhs are also discounting stock this week while a raft of others including Gap, Oasis and Warehouse are issuing "secret sale" and "friends and family" vouchers.
Analysts believe many consumers are delaying their Christmas shopping, hoping to catch bargains as shops intensify their sales.
Retail analyst Freddie George, of Seymour Pierce, said: "Christmas 2008 has the feel of being the worst retailing Christmas for many years - more for the higher level of discount activity."
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