Desperate high street chains launch early Christmas sales with discounts of up to 66 per cent
High Street favourites Debenhams, House of Fraser and Argos are among a string of retailers who are offering shoppers massive discounts to combat poor sale figures
DESPERATE high street stores have launched an early Christmas sales in a bid to boost festive takings.
The likes of House of Fraser, Currys and Argos are offering shoppers heavily discounted high ticket items in a bid to overcome poor sales figures.
However despite pleasing shoppers in search for a bargain retail experts have warned early festive sales may do more harm than good for retailers.
According to the retailers have been forced to knock off up to 66 per cent off items amid suffering the worst trading conditions in a decade.
A whopping 37 per cent of products on the high street have been put on sale, a 26 per cent increase from this time last year.
Website LovetheSales.com, which tracks the sales and offers of 800 retailers, found a record number of deals.
The spout of good weather this autumn has left stores an excess of winter clothing, shoes and woollen items prompting Debenhams to launch a 'winter event' with 30 per cent off coats and knitwear.
High street giant House of Fraser has launched a 20 per cent reduction across its party wear range ahead of annual Christmas work dos.
The reductions across department stores will trigger John Lewis - which recently unveiled its Christmas ad - to cut prices due to its price-match promise.
Fashion favourite Topshop has also launched an up to 60 per cent sale on its winter collection.
Struggling clothing chain Gap has shaved 50 per cent off its winter clothing while H&M has announced reductions of 40 per cent on its website.
Argos, which recently begun ditching its traditional catalogues instore, has launched a 20 per cent flash sale across selected children's toys, electricals and sports and leisure items.
While news of sales may delight shoppers in search of a bargain retail experts have warned early sales could spell long-term damage to retailers.
Currys has knocked off £400 off TVs amid the slump in sales of household appliances.
Stuart McClure from LovetheSales.com said: "Over the last couple of years the shopping cycle has changed with Christmas consumer spending stretching for many weeks.
"Normally we would expect the volume of products to increase slowly throughout November, to peak around the Black Friday week.
"However, with a record number of products already on sale, there's not much to be added."
Other experts warned the upcoming budget could put a dampener on consumer spending and slammed the thousands of pounds spent on Christmas TV ads as self-inflicted wounds.
Sales are expected to run all the way through Black Friday on November 24 to Christmas following a 5.2 per cent slump in high street sales last month, the biggest fall since 2007.
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