High street stores are set to discount stock by huge amounts to tempt Christmas shoppers as the retail industry struggles to shift its winter stock due to the mild weather.
Figures show that discounts at the moment are around 41.8% and will reach 45% by the weekend.
Consumer business partner at Deloitte, Jason Gordon, said: “Compared to 2014, there is already a noticeable increase in both the volume and value of discounts in the run-up to Christmas this year. Whilst this is good news for consumers looking to grab a bargain, it is a clear sign that retailers are being faced with what is now an annual uphill battle.”
Data produced from Ipsos Retail Performance (IRP) shows that people visiting non-food stores dropped 2.6% last week in comparison with the same period in 2014.
Director of retail intelligence at IRP, Dr Tim Denison, said: “With less than a fortnight to go until Christmas, it is beginning to look as if store footfall will be lower than last year. We had expected to see more people shopping early this year, taking advantage of extended promotions after Black Friday, but this has yet to materialise.
“Time will tell whether the slack has been taken up by online and mobile, or whether shopping per se is more subdued this year than last.
“Unless there is a substantial last-minute rush to the shops, we now project a drop of 0.9% on 2014.”
