Desperate retailers have launched an unprecedented wave of pre-Christmas sales in a final bid for shoppers.
Some of the High Street’s biggest names were offering discounts of up to 90 per cent last night as they fought to end a woeful year on a high note.
They are counting on shoppers to spend a predicted £1.7billion on last-minute Christmas presents today, which has been dubbed ‘Super Saturday’.
Retail revenues have plummeted this year – with around £17billion wiped off the share prices of the country’s biggest shops – and more stores are expected to go bust in 2019.
Retailers have been offering discounts of up to 90 per cent last night in an unprecedented wave of pre-Christmas sales. (Stock image)
Analyst Richard Hyman said: ‘This is unprecedented. The level of discounts, the number of retailers with sales, and the proportion of their stock on offer are all at record levels.
‘I’ve never seen as much activity as this before – it’s a statement of desperation.’
The biggest discounts on offer are at Sports Direct, owned by billionaire retail tycoon Mike Ashley, where prices have been cut as much as 90 per cent.
House of Fraser and Topshop have both slashed prices by 60 per cent, and Debenhams by 50 per cent.
Electricals store Currys PC World has cut 30 per cent off its prices and the furniture firm Made has 40 per cent reductions.
Internet retailers have also joined in the frenzy, suggesting they too are struggling. Web clothing retailer Asos has cut prices by 50 per cent and rival online fashion firm Boohoo is now offering a 70 per cent sale.
The biggest discounts on offer are at Sports Direct, where prices have been cut as much as 90 per cent. (Stock image)
House of Fraser and Topshop have also cut prices by 60 per cent, in a final bid for shoppers. (Stock image)
Helen Dickinson, chief executive of the British Retail Consortium, said companies are desperately hoping this weekend will mark a turnaround in their fortunes.
She added: ‘With consumer habits changing towards more last-minute shopping, coupled with more reliable delivery, many consumers are likely to be leaving their present and food shopping to the final moment.’
Shops rely on good Christmas trading to earn enough to get through the first three months of the new year, which tend to be the toughest for retail.
Sky-high business rates are thought to have made the problem worse by loading companies up with vast amounts of tax at unprofitable stores.
The Daily Mail is campaigning for reform of rates to level the playing field between bricks and mortar shops and online giants such as Amazon which typically pay far lower rates.
Bag yourself a blingy bargain: Top brands are slashing prices giving shoppers the chance to net bigger savings by spending more
By Emily Monckton for the Daily Mail
When the top brands slash prices, the more you spend, the more you save. So bag yourself a blingy bargain this Christmas.
We have rounded up the best and most exciting deals so you don’t have to.
Brands such as Dolce & Gabbana, Prada, Armani and Burberry are slashing their prices with up to 70% off. Take a look at our list below:
30% OFF Hamleys teddy bear (limited edition Clarence bear) WAS £50 / NOW £35, hamleys.com
35% OFF Mini Maserati (electric ride-on toy) WAS £200 / NOW £130, halfords.com
30% OFF Women’s Armani watch (Diamante-faced watch) WAS £389 / NOW £276 watchshop.com
40% OFF Glanvito Rossi boots (embellished boots) WERE: £1630 / NOW £978 matchesfashion.com
40% OFF Straight off the catwalk (Dolce & Gabbana gown) WAS £7250 / NOW £4350 matchesfashion.com
30% OFF Missoni umbrella (patterned umbrella) WAS £100 / NOW £70 amara.com
33% OFF Copper bath tub (Marseille Cyprium Copper Bateau Bath) WAS £3993 / NOW £2695.50 castironbath.co.uk
20% OFF Girls Burberry Coat (Hepworth coat) WAS £949.99 / NOW £759.99 www.designerchildrenswear.com
60% OFF Crystal & Pearl tights (pearl and Swarovski) WERE £625 / NOW £250 wolfordshop.co.uk
50% OFF Prada fur hem coat (cashmere coat) WAS £5073 / NOW £2536 matchesfashion.com
50% OFF Miu Miu Sunglasses (tortoiseshell sunglasses) WERE £257 / NOW £129 harveynichols.com
50% OFF Dolce & Gabbana dinner jacket (Men’s navy velvet jacket) WAS £1600 / NOW £800 harveynichols.com
40% OFF Widescreen TV (Samsung 75in UHD smart television) WAS £2299.99 / NOW £1348 amazon.co.uk
60% OFF Cutlery set (Belleek Living 72-piece canteen) WAS £250 / NOW £99 debenhams.com
40% OFF Ralph Lauren towel (guest towel) WAS £17.50 / NOW £10.50 amara.com
60% OFF Dolce & Gabbana shoes (men’s Napoli derby shoes) WERE £957 / NOW £383 farfetch.com
40% OFF Men’s Armani watch (chunky watch) WAS £599 / NOW £359 watchshop.com
30% OFF Cufflinks (enamel cufflinks) WERE £55 / NOW £38 tedbaker.com
20% OFF Pol Roger (vintage rose) WAS £80 / NOW £64 waitrosecellar.com
40% OFF Oscar de la Renta earrings (crystal clip-on earrings) WERE £300 / NOW £180 mytheresa.com
20% OFF Prada Gloves (prada fur trim gloves) WERE £491 / NOW £393 farfetch.com
70% OFF Ceiling light (copper tone and glass lamp) WAS £2454 / NOW £699.99 tkmaxx.com