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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