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Christmas price war on the high street

Despite the fact that last Monday was seen by many as potentially the largest spending spree of the year, it is believed that an additional £420 million will be spent on Monday. However, analysts believe that UK consumers are in line for a massive £1 billion in savings as the major retailers up and down the country fight it out for the attention of the UK consumer.

When you compare promotions available today to those available last Christmas the increase in competition is there for all to see. At the height of the Christmas promotion period last year we saw 15,155 special offers from UK supermarkets although this year there are already 18,817 special offers and many more will follow. While those at the top of the retail trade tree can afford to cut prices and cut margins in the short term, this massive competition amongst retailers will see some go to the wall in the New Year.

There is no doubt that UK supermarkets are in many ways "a law unto themselves" with a massive influence on our everyday lives and the retail market as a whole. It will be interesting to see how the UK government responds if we see smaller retailers being priced out of the market and struggling to survive in the short term.

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