You may have noticed something recently if you’ve been anywhere near a high street, shopping centre of perhaps online. Discounts
galore are upon us. Sad to say a large percentage of my email inbox consists of discount codes, offers and deals from well known high street retailers all hoping to entice we the humble customer, into spending our hard earned cash and shifting some of their ever expanding stock. It would seem it’s working, if I’m to base my judgements on the sights (and stampedes) of Oxford Circus last weekend but it seems the numbers aren’t quite matching up to the sales nor the herds of unfazed shoppers.
Just last week the fashion world was shaken by the news of Sir Philip Green having to close up to 260 struggling Arcadia stores nationwide. Only last year the group who owns Topshop, Wallis, Evans, Dorothy Perkins and Miss Selfridge closed an initial 66 small stores due to the economic slump. He disclosed his smaller branches were struggling as customers restrict their spending. Sir Philip blamed the continuing problem on Britain’s unexpected warm weather over the past few months. But hasn’t our weather always been unpredictable? Of course a billionaire wouldn’t think to consider that people are actually cutting back in order to buy food and pay their bills, rather than pay the increasingly eye watering prices which continue to climb steeper and steeper.
It used to be that the sale was a short lived affair, an occasion even. Now it seems the norm for sales to occur constantly, the manic turnover of the high street turning into more of a hindrance than a beneficiary. Hiking up the prices on everyday items and hoping customers remain unfazed or eventually relent, only to close branches once the competition gets stronger.
But there is some good news. At least for those of us in need of a little pick me up or a bargain (who isn’t?); Nick Bubb, analyst at Arden Partners, said; “There are lots of deals going on and there will be many more closer to Christmas. Nobody needs to pay the full price, nobody needs to panic. Just be patient and wait for the deals. With Christmas Day on a Sunday and opening hours being extended everywhere people can afford to leave it late.”
So, if your budgets a little tighter than you would ordinarily like, hang in there, there will be many more bargains to snare.