CANNY shoppers are holding back on buying presents as stores get set to slash their prices this week - fearing a Christmas wipe-out.
High Street shops need to kick-start a buying frenzy to avoid their worst Christmas in 25 years.
Many are holding pre- Christmas sales and staying open longer to fight supermarket and internet pressure.
A survey by debt experts IVA.co.uk shows that one in five people will spend less on Christmas this year because of higher interest rates and soaring fuel bills. A spokesman said: "The last rate hike had a severe impact on many people's spending. Christmas is traditionally a time for celebration and festivities, but for many it is a time of high expense and worry as people struggle to make ends meet."
Many stores have held oneday sales and are offering discounts on everything from toys and bikes to iPods and TVs. Halfords, Argos and Tesco are among stores with big reductions. WH Smith has halved kids' books and B&Q's decorations and lights are down 50 per cent. Boots is also halving some prices.
Source: Sunday Mirror
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