High Street stores slash prices in attempt to lure Christmas shoppers

Prices have been slashed by up to 75 per cent at some of the country's biggest chains in a last-ditch effort to get consumers spending.

Many families have been squeezed by the impact of higher interest rates and household bills, particularly for food and transport.

Retail analysts say desperate measures are needed to counter the fact that shopper numbers this week have been running below last year.

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Many have left their Christmas purchases to the last minute and others have deserted the High Street in favour of shopping online.

A fall in the number of people visiting bricks and mortar outlets has triggered big price cuts and a need for extended opening hours.

The rash of pre-Christmas sales mean that today and tomorrow are predicted to be the busiest shopping days of the year.

Many retailers such as Gap, French Connection and Hobbs are offering savings of up to 75 per cent on items such as clothes and shoes. There are also hundreds of half-price High Street deals on Christmas gifts, such as toys, digital cameras and hair straighteners.

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Industry expert Paul Clarke, of Barclays, said: "Retailers' attention will be on shifting excess stock in the vital last few days before Christmas.

"Retailers will be doing everything they can to entice people into their stores over the weekend."

"The High Street had been preparing for a tough Christmas season with many promotional offers available earlier than usual.

"This has now come true and, as a consequence, we have seen many sales starting early and increased availability of internet discount vouchers."

He added: "The recent trend of shoppers delaying their gift buying was exacerbated by the poor weather at the beginning of the month."

Accountants Ernst & Young said the average pre-Christmas markdown has been 36 per cent this year, compared with 33 per cent in 2005.

Spokesman Jason Gordon said: "Consumers have lost the feel-good factor due to the credit crunch, falling house prices and rising household costs.

"It's no surprise that some retailers are having to offer such deep discounts to woo cash-strapped shoppers."

In another effort to boost sales, the big food retailers are breaking the spirit - if not the letter - of the law that restricts Sunday trading to six hours.

Tesco and Morrisons will both be opening hundreds of supermarkets for one hour of browsing time tomorrow.

Asda, Morrisons, Waitrose and Marks & Spencer will open their doors 30 minutes early.

Such actions are not illegal because although shoppers are free to browse and fill their trolleys in the extra time, no goods will be sold.

Tesco, Asda and Sainsbury's will be opening hundreds of stores from one minute past midnight on Monday and then trading through to 5-6pm.

Asda is particularly angry at the existing controls on Sunday trading, which do not apply in Scotland.

A spokesman said: "Customers have been left scratching their heads as to why you get more shopping time for Christmas in Edinburgh than you do in Eastbourne."