Retailers slash prices in order to boost sales

A very nervous high street before Christmas has resorted to slashing prices in order to boost sales resulting in a bargain hunt ‘frenzy’ for Christmas shoppers who were expected to be conservative with their Christmas purchases.

Sales and price cuts are expected following the manic from the sales launched across Woolworth stores yesterday following the decision by administrators for a closing down sale.

The concern for Woolworths going under was shared by shoppers expressing their sentiment towards the chain and by retailers who wondered who might be going next.

Tesco has announced up to 50 percent off on over 1000 Christmas gift ideas, whilst the department stores House of Fraser has also offered huge discounts on selected items both in store and on the website.

David Hughes-Lewis, chairman of Cardiff Retail Partnership has revealed the meaning of such a move as it only takes one retailer to slash prices by half in order for the rest to follow in such a competitive market.

This is surely going to escalate the pre-Christmas price war which is great news for shoppers but no so for retailers who were already bracing themselves for a tougher Christmas with fewer sales are now having to drastically cut their profit margins.

With shoppers now having the upper hand they will not part with their hard earned cash unless there is a very good deal on offer.

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