Saturday, February 29, 2020

Christmas discounts rise for 6th consecutive year


Average high street pre-Christmas discounts will reach 43 per cent this year, marking the sixth consecutive year of growth.

New research from accountancy firm Deloitte has revealed that discounts have increased by 1.5 per cent from last year, and predicts that they could rise by 54 per cent by Christmas Eve.

The heavy discounting is purportedly due to factors like changeable weather and a successful Black Friday.

READ MORE: Retail expected to enjoy bumper Christmas season

“This is the sixth year in a row that we have seen ever increasing discounts. Such a long precedent has led to consumers becoming conditioned to expect substantial discounts in the run up to Christmas,” Deloitte consumer business partner Jason Gordon said.

“The fact that we have seen such deep discounts so early is an indication of the level of nervousness from the high street.

“Economic uncertainty in 2017, particularly around how increasing inflation will affect consumer confidence and spending, has encouraged retailers to err on the side of caution.”

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