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Marks & Spencer set to announce new 20% discount day

In a sign of the times, it has been announced that Marks & Spencer is set to hold a further 20% discount day in order to attract business as the consumer starts to disappear from the UK high street. This is the latest in a number of large-scale giveaways on the high street orchestrated by a number of the major retailers in an attempt to try and attract the attention and money of UK consumers.

Yesterday's news from Tesco regarding the fall in growth rates to levels not seen for over 16 years is another reflection of the pain the UK economy is feeling at the moment. There is some debate as to whether these 20% discount days are helpful or a hindrance as more and more consumers appear to be expecting larger and larger discounts as we approach the vital Christmas period.

There are also supply issues on the UK high street after the collapse of the Woolworths CD, DVD and computer game distribution business which has left many stores severely understocked. It will be interesting to see how these supply issues are resolved in the short term as the final push towards Christmas starts to evolve in the UK.

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