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Retailers cut prices amid caution from shoppers

  • With Christmas fast approaching but shoppers not so care free with their cash for a variety of reasons, retailers have been slashing their prices to lure them in.
  • Discounts are "35-40% if you are doing well. And it's 50% if you are feeling the heat," says analyst Stacey Widlitz.
  • However, even a late surge of consumers may not make it a great holiday shopping period for retailers. "There will be a massive last minute rush, the biggest surge in history," says one senior retailer. But "it ain't going to rescue anything."
  • And not everyone is convinced that the endless bargains are healthy for shops. Constant discounting is "like a drug. You need a higher dose each time you do it, and you need a shorter period of time (in between)," says Anthony Thompson, CEO of British retailer Fat Face.
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