Market research firm PriceWaterhouseCoopers (PWC) has found that less than half of High Street retailers are offering discounts or promotions, as reported in the Retail Bulletin.
Only 43 per cent of retailers are advertising discounts – down from nearly two-thirds (or 62 per cent) of retailers in the same week last year.
According to PWC, the discounts currently being offered are also lower at 25 per cent off, whereas in the same week last year discounts hit 40 per cent. The firm
"It is encouraging to see that retailers appear to have more tightly managed stock levels and are therefore better prepared for Christmas this year, reducing the need to chase footfall and sales as aggressively as last year,” said PwC retail ad leisure director Andy Garbutt.
“I think this is also an indication of improving consumer confidence, with shoppers happy to spend money on presents or on themselves if they see a compelling reason to do so.
"The jury is still out on whether discounting will remain below 2008 levels as we get nearer to Christmas. Retailers are closely monitoring their daily and weekly sales figures. It all depends on how actual sales compare to budgets over the next few weeks, and we may see discounting levels creep up again."