Credit crunch Christmas: Bargain bonanza for shoppers as prices are slashed up to 70%
Christmas shoppers on Oxford Street in London
Prices are being cut by up to 70 per cent this weekend as retailers prepare for a 'bargain basement' Christmas.
Around half of families are tipped to spend less this year on food and presents than they did last time.
Part of this will be due to the discounts on their regular purchases - but customers are also expected to go without many favourites in the credit crunch.
The Mintel research came ahead of the traditional start to the festive shopping season.
Sales and vouchers offering huge savings are available from today, with retailers promising the best bargains in 30 years.
Some of the major names promising deals are Debenhams, with savings of up to 50 per cent on items for the home and partywear, House of Fraser, M&S, furniture and electrical chains.
Laura Ashley and Bhs are also offering big savings on lighting and other items.
M&S has its three-for-two festive deal on gifts. Stores are distributing hundreds of thousands of discount vouchers to try to kick-start shopping.
Figures from the British Retail Consortium show that electrical goods and fashions are cheaper than they were a year ago, with further falls in the pipeline.
Christmas shoppers on Oxford Street in London
Prices are being cut by up to 70 per cent this weekend as retailers prepare for a 'bargain basement' Christmas.
Around half of families are tipped to spend less this year on food and presents than they did last time.
Part of this will be due to the discounts on their regular purchases - but customers are also expected to go without many favourites in the credit crunch.
The Mintel research came ahead of the traditional start to the festive shopping season.
Sales and vouchers offering huge savings are available from today, with retailers promising the best bargains in 30 years.
Some of the major names promising deals are Debenhams, with savings of up to 50 per cent on items for the home and partywear, House of Fraser, M&S, furniture and electrical chains.
Laura Ashley and Bhs are also offering big savings on lighting and other items.
M&S has its three-for-two festive deal on gifts. Stores are distributing hundreds of thousands of discount vouchers to try to kick-start shopping.
Figures from the British Retail Consortium show that electrical goods and fashions are cheaper than they were a year ago, with further falls in the pipeline.
Comment