With the remaining days of Christmas shopping will be most decisive for the struggling high street stores, depending on how much prepared cash strapped shoppers are to spend on festival celebrations. The last week is generally the busiest days for the retail industry, which partly compensate for consumer downturn prevailing through other days of the year.

Sales sunk faster in this month than in November despite offers of big discounts by the retail stores. Strategy Retail, a 51-store group which includes home decorating store Fads, was forced into administration by the deteriorating trading conditions.

Zavvi has sought advice from consulting and restructuring firm Ernst & Young on various options including administration if conditions worsen.

The latest customer traffic data showed that offers of unprecedented discount could not attract customers for pre-Christmas sales. According to Experian & Synovate, the data tracker firm, number of shoppers was down by 7% in the first four days of last week. It predicts that the December fall will be 7.3% over last year number.

Struggling retailers’ woes are further increased by the quarterly rental payments which are due during Christmas festival this year. Wage bills and rent are the highest fixed costs for retailers every month.

According to retail consultant Neil Saunders, consumer is in extremely weak position to deal with downturn and can no longer afford to spend beyond available means.

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