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Are high street discounts causing more trouble than they are worth?

Figures from the world of retail are showing substantial reductions in the value of goods sold as the discount trend continues to sweep across the UK. We have seen a vast array of companies offering 20% discount days, 50% off chosen items and an array of other promotions and offers to tempt consumers but are these offers really worth it or are they causing more trouble for the sector?

The main concern is that because retailers in the UK showed their hand at a very early stage in December, more and more consumers are looking for larger and larger discounts as we approach the last vital few shopping days to Christmas. While consumers appear to have less money in their pockets they believe their spending power on the high street has increased, and are willing to take the chance of losing out on a bargain against the potential to gain massive discounts.

As we covered in one of our recent posts there are 15 "pre-packed" administrators ready to go, in what accountants around the UK suggest will be a cull on the UK high street over the next couple of months.

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