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Pre-Christmas discounts rise to record high

Discounts in the run up to Christmas have reached a record high, new research has shown.

High street discounts are currently averaging 43.3%, 1.5% deeper than this time last year, according to professional services firm Deloitte.

This is the sixth year in a row that pre-Christmas discounts increased.

It is predicted Sales will rise to 54% by Christmas Eve.

Jason Gordon, consumer business partner at Deloitte, said: “Such a long precedent has led to consumers becoming conditioned to expect substantial discounts in the run up to Christmas.

“The fact that we have seen such deep discounts so early is an indication of the level of nervousness from the high street. Economic uncertainty in 2017, particularly around how increasing inflation will affect consumer confidence and spending, has encouraged retailers to err on the side of caution.

“Deep discounts, calculated using increasingly sophisticated analytical tools, will help retailers shift stock and remain competitive before the uncertainties that lie ahead.”

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