Argos has become the latest retailer to offer unprecedented discounting in the run-up to Christmas, launching a half-price Sale that the retailer said was its biggest ever.

Argos said the sale will feature more lines being sold at half price than ever before. The offers run online and in stores until December 24.

In a statement Argos said: “We are offering customer Christmas savings with the last date for ordering for Christmas delivery until noon on December 22 (on selected lines).”

Debenhams also began another Sale today, with up to 50 per cent off over five days.

Marks & Spencer promotions

Speculation has also mounted that Marks & Spencer will launch another pre-Christmas Sale event on Thursday.

However, sources familiar with the situation downplayed that prospect but it is understood that M&S will unveil a further raft of tactical promotions later this week.

Record pre-Christmas discounting

Results of a survey released today show retailers' pre-Christmas discounting has reached record levels and even deeper reductions are expected as store groups desperately clear stock.

Discounting so far has averaged 37 per cent of full selling price, according to the Ernst & Young research – up from 34.6 per cent last year and 33.6 per cent in 2006.

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