Retailers deployed discounting tactics to grab share of all-important Christmas season spend as shoppers showed reluctance to splash out in the wake of the downturn. The hope is that the price cuts may kick-start higher spending.
Debenhams finishes a three-day event today, while yesterday Marks & Spencer offered 20 per cent off. Others including Dorothy Perkins, New Look and Asda’s George also cut prices. John Lewis re-emphasised its “Never knowingly undersold” price promise.
Marks & Spencer executive chairman Sir Stuart Rose was pleased by shopper response. He said: “It seems to have touched the spot. It’s a riot.”
An M&S spokeswoman was unable to reveal an exact change in footfall but said products such as cashmere, knitwear, wine and party dresses had been especially popular.
A Debenhams spokesman said its promotion generated a spike in footfall and was “beyond expectations”. He said cosmetics and fragrances have proved popular, as well as Designers at Debenhams products, such as a half-price Betty Jackson shimmer bow dress.
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