Retailers hope for festive frenzy in run-up to Christmas -PwC

This is up four percentage points on the previous week, and on par with the same time last year (63 per cent), but far from the level seen in 2008 (80 per cent) in the aftermath of the beginning of the financial crisis when customers stopped spending.

Average price discounts being advertised this week were 38 per cent, the same as last year and below the 45 per cent seen in 2008.

Martin Cowie, head of private business at PwC in Scotland, said: “Despite the late November sales peak associated with BlackFriday, the level of promotional activity is continuing to increase as we enter December, suggesting that there is a base level of activity which is seen as necessary to be ‘in the game’.

“However, many retailers jumped the gun on the traditional Christmas sales start line by running promotions earlier this year to spread them out and to clear their excessive winter stock. So with three weekends to go, it’s still all to play for as the battle for Christmas spend will go to the wire.”