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Christmas discounting to reach record high

Retailers will slash prices by an average of 48% over Christmas, setting a new record Deloitte reports.

The average discount is currently sitting at 43.6%, and Deloitte predicted that retailers would cut prices even further following a challenging November. 

Jason Gordon, lead consumer analytics partner at Deloitte, said: “Christmas falling on a Tuesday, shorter Sunday opening hours and many choosing the weekend prior to Christmas to travel to family will complicate the last few crucial days’ trading. This is why we expect retailers to ramp up their discounting earlier than normal in an attempt to clear stock.”

He added: “Against a backdrop of considerable business uncertainty across the sector, many retailers will extend their Christmas Sales deep into January, with some having little option but to run through early February and even beyond. While this is unprecedented, it will not be a surprise.”

Deloitte said it expects luxury fashion retailers to slash prices by up to 50% on two-fifths of products from Boxing Day onwards, up from one-fifth last year. 

Readers' comments (3)

  • Retail will keep driving itself into the sea in the absurd notion that discounting will help solve its problems. Mickey Mouse could do better.

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  • When will the British retailers learn, you can't keep discounting product 12 months of the year, and expect to make profits, point in case House of Fraser, Debenhams need I go on.
    Yes we are down on turnover this year, but our margins are strong which equates to profit.

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  • darren hoggett

    @carl

    Totally agree. We've had our best Xmas week in years, without any discounting whatsoever. When will these retailers ever learn?

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