Bargains galore as Christmas comes early for shoppers

[Legal Beagles]

Shoppers were lured back on to the high street yesterday as stores slashed prices in an attempt to kickstart the vital Christmas trading period and shift unsold stock.
In the annual game of chicken between consumers and stores, the retailers have blinked first. There may still be 34 shopping days until Christmas, but over the past three weeks sales have fallen off a cliff for many retailers. Faced with what some analysts have warned could be the worst Christmas for 30 years as a result of falling house prices, rising unemployment and rock-bottom confidence, retailers have already resorted to price cuts and promotions.
It was Marks & Spencer's decision to hold a one-day 20% off "spectacular"- for the first time in four years - that prised many reluctant shoppers out of their homes and offices.
But the shop windows in the West End of London were plastered with posters promising bargains. Debenhams was in the middle of a three-day 25% off sale and there were sale signs up in Jane Norman, Mexx, Clarks, H Samuel, and Sir Philip Green's Arcadia Group chains, including Burton, Dorothy Perkins and Bhs.
New figures from the Office for National Statistics suggested retail sales were proving unexpectedly resilient. The ONS said sales dropped by just 0.1% in October, leaving them 1.9% higher than last year. This was way ahead of forecasts in the City, where analysts had been predicting a slump of 0.9%.
But in recent months economists and retailers have repeatedly questioned the accuracy of the ONS figures. Even the Bank of England has suggested the data should be treated with caution.
David Tinsley, an economist with nabCapital, predicted the official figures would soon catch up with reality: "The figure will probably crash around November or December."
Surprise sales can anger shoppers who have bought items at full price and yesterday some M&S customers were certainly planning revenge. One woman, who asked to remain nameless, said several of her friends were buying items at 20% off which they had already purchased and planned to return with their original items another day to get a full refund.
Nevertheless, M&S boss Sir Stuart Rose insisted the discounts had given the UK's biggest clothing retailer a much-needed boost: "It seems to have touched the spot. It's a riot."
Shopper Judith Limbert, who had travelled to Oxford Street from Berkhamsted in Hertfordshire for the M&S sale, said consumers were waiting for bargains: "In the runup to Christmas I suspect people are going to hang on and hang on, waiting for sales."
Limbert had been planning to buy Christmas presents in M&S but had been waiting to see if it would offer reductions. She said her family would definitely spend less this year and would look for bargains on the internet. "We've got less money in that our utility bills are higher and food bills are dearer."
A survey yesterday said that 80% of consumers plan to spend less this year and there was more gloom from credit rating agency Moodys, whose chief international economist, Ruth Stroppiana, warned: "Britain's retailing sector is expected to come under increasing pressure in coming quarters as the country's highly indebted households continue to rein in expenditure."
Over at the new Westfield shopping centre in west London, in the basement food hall of M&S's vast store, trolleys were clattering through the tills.
With a recession around the corner, it was clearly time to stock up on champagne. A couple from Dorset were piloting a trolley laden with M&S bubbly. They bought 36 bottles - and saved nearly £450 on the shelf price.
The champagne was a triple bargain. On top of the 20% off was another 10% discount and a £5-a-bottle reduction for buying more than 12 bottles. The result was a £26 ticket price slashed to just £13 a bottle.
Isabelle Marsh bought 36 bottles for just under £500, compared with the £936 full price.
Marsh runs Bournemouth-based Viva Las Vegas, a fun casino business for private parties, and the champagne will be used as prizes.
At the next till her friends Kay and Roger Brahams, from Surrey, who are also in the casino business, were doing exactly the same. They also had a collection of blue spotted bow ties and waistcoats for their croupiers - four waistcoats, four bow ties and two pairs of black trousers for £124, down from £155 for one day only. "It's for the business," said Roger Brahams. "It is too good to miss."
On the clothing floor, however, there were many shoppers who had used the discount day to bring forward purchases they were planning to make anyway. Mark, a BBC employee, had popped in to buy an £80 coat he had his eye on. "My wife rang me this morning to tell me about the sale," he explained. He paid £64 and walked away very pleased.
In Sheffield city centre, Carolyn Bowler had nipped out in her lunch break to buy a box of Christmas crackers, but by the time she had heaved her way out of M&S she had three of them, plus a new dressing gown.
"You've to shop carefully these days," she said, as three women marched past with purple Debenhams balloons and leaflets promising "25% off plus look inside for half-price bonus deals".
"These offers are bringing people out, no question," said another lunchtime shopper called Marion - "please don't print my surname in case my children read the paper and it spoils their Christmas surprise". The surprise is that Marion is making them clothes herself this year, instead of buying new ones.
"You've got to cut back at times like these," she said. "We certainly have anyway, because my husband's not had a job since the summer. No one knows what the future holds any more."
It was all music to the ears of Ian Fleming, who was supervising Debenhams balloon women. Enticing punters with the likes of a shimmer bow back dress reduced to £37.50 from £75, he said: "Shoppers will never get tired of good value and a bargain. This is working. It's even better out at the Meadowhall shopping centre."
That, however, was impossible to check: reporters were barred from doing interviews in the sprawling complex beside the M1 because of the current spate of gloomy stories.
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[Ladidi]

Re: Bargains galore as Christmas comes early for shoppers

You know it is a good thing that the shops have slashed their prices, but the sad downturn to that is many people will be sitting at home or at their places of work and thinking, how I wish I could afford to go buy these things at their discounted prices.

Or for those who the inevitable has happend to, where will the money come from? Shall I put it on the plastic? Shall I take out a doorstep loan? and for those who simply have no way of getting any money together and as the big event day draws closer sink into depression of this time last year I had and did and for this year I have simply got nothing Whatever will we/I do???

Christmas is a time for goodwill and a season for forgiving. The events of what has happened over this last year for many hard pressed people will not be good for anyone who has lost their job or is close to losing their home, or is paying high interest on their mortgage and cannot move to a better deal due there not being enough equity in their home enabling them to be a bit more financially better off each month enabling them to bring their payments down, or because they have missed a payment or 2 due the high payments..

This year has been a never ending cycle of debts, job losses, repossessions of peoples homes. The list can go on and on. The government tell us, this will continue till at least 2010 before we will see any light if we are lucky..

The advise I can only offer or give for seeing out the festive season is, dont spend what you dont have, whatever you used to spend on presents for your children cut the amount in half or give one big present and then several important other presents. If your children are old enough to understand, explain to them, that christmas is important to you as it is for them, but out of thier list can they chose what they would want the most bearing in mind they have a limit of £x which how much you have budgeted and can comfortably afford. Tell them you wll make it up on Birthdays or Easter with a little extra for these occasions and hopefully next christmas will be better as you will open a savings account putting a bit away each week or month so that it will be made up or whatever decision you come to that is comfortable for you.

Dont go into debt, it could may well see you into the next christmas and before you know it, every christmas is the same, a round debt that never goes away. Dont spend what you cannot afford, or take the money from your bills e.g mortgage/rent utility bills. Otherwise you will find making your child smile for one day will turn into months or days of despair and never ending trying to keep peter/paul/john/james happy when they are writing or phoning and asking where the this months bill money is and the arrears you owe.

At the end of the day, on christmas day, the most important present that you can have is your family and your home. The rest is just little things, buying gifts make you feel good, it will make you feel even better knowing you have spent within your limits and you have not gone into debt because of it..