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Pay day and discounting boosts pre-Christmas shopping

Pay day, discounting and promotions helped drive shoppers back out onto the high street last week according to research group SPSL.

According SPSL footfall figures, the week beginning November 25 shoppers numbers were flat against last year but week-on-week numbers jumped by 11.2%, a clear indication that the Christmas shopping boom has begun.

Dr Tim Denison SPSL retail psychologist said: "Once again these figures are slightly better than we had expected. Admittedly the week came at exactly the right time for most people’s salaries to hit their bank accounts but there does seem to be a growing attitude amongst consumers that all the negative pressures can be ignored until the New Year, when they may be forced to cut their shopping trips."

Denison added: "The stores have played a big part too. Those running discount voucher promotions such as Selfridges and Gap will have helped stimulate Christmas trade."

"Our opinion, based on a detailed analysis of more than a decade of footfall figures is that Christmas 2007 is shaping up to be fairly decent for retailers with the strong caveat that the New Year may well bring much harder times sans any interest rate relief from the MPC at the Bank of England," he said.

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