Though people have not got to December yet, sales have already begun, signalling fierce competition for market share. Retailers are getting ready to face cut-price battles rather than big profits this Christmas.
Instead of seeing bauble-laden Christmas trees, shoppers were happy to see banners of mega sale offers out of stores windows. Though Christmas is yet many days away, retailers have gone into discount mode. Shoppers might get relief for Christmas shopping, but the investors are getting more worried about slim pickings.

At Westfield, except Next, all three ‘anchor stores’ House of Fraser, Debenhams and Marks & Spencer were running promotions. Next chief executive Simon Wolsfon claimed that Next had never discounted before Christmas and this stand meant that customers could trust their prices.

But the cash strapped customers are least concerned about retailers’ price integrity. At Westfield they thronged in large numbers. Many shoppers acknowledged that they were buying more because of 20% discounts.

Annual Christmas survey by Deloitte indicates that 25% of UK shoppers plan to spend less this year but the retailers are trying to attract them with early discount offers. Around 50% of those surveyed would be spending the same amount as last year.

According to Neil Saunders, director at Verdict, discounts were good news for shoppers but very bad news for retailers’ margins. John Lewis’s selling operations director, Dan Knowles, commented that it was great way to cut margins and attract customers into stores.

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