Store discounts of 50% expected before Christmas
The consultancy firm Deloitte has predicted that pre-Christmas discounts could be at a almost 10-year high. Deloitte have been monitoring 800,000 products online and in-store since 2011 and expect an average discount of 50%.
Data provider Springboard said that new statistics show that the number of shoppers has dropped since this time last year. They suggested that shoppers were waiting for better discounts.
Insights Director at Springboard, Diane Wehrle said: "Consumers clearly took advantage of early discounts to purchase Christmas presents, and are now waiting for discounts to deepen once again in the days immediately before Christmas as retailers do their best to shift unsold stock."
Deloitte’s findings showed discounts ranged from 8% to 87% with clothes experiencing the best discounts. They said that the weekend before Christmas could see a “tipping point in promotions”.
Deloitte said that the increase in discounts is a result of shoppers taking advantage of Black Friday deals for their Christmas shopping. This has led to a lower turnout out in the traditionally busy run up to Christmas, forcing shops to cut their prices.
Deloitte is also expecting further discounts on Boxing Day of about 54%. They also have predicted that some retailers may even make their Boxing Day sales live online on Christmas Day and even Christmas Eve in an effort to boost sales.
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