Fury in street sales: Fighting stores panic their prices by as much as 90 percent to win customers with the lowest price cuts in 15 years
- Debenhams, New Look and House of Fraser are among the stores that lower prices
- Cuts due to the warm early autumn, fierce competition and online shopping
- Deloitte said sales this fall are "the deepest we've ever seen".
In "panic" stores, prices are cut by up to 90 percent to attract customers.
This year's fall sale offers the lowest price reduction in 15 years – and will take longer than the usual two weeks, at least a month.
Debenhams, New Look, Jigsaw and House of Fraser are among the stores that cut prices this week to let buyers in the door.
The cuts stem from a warm early autumn, fierce competition, online shopping and lower consumer spending.
Debenhams, New Look, Jigsaw and House of Fraser are among the stores that cut prices this week to lure buyers in the door.
Consulting firm Deloitte, which gathers data from Main Street, said sales this fall are "the deepest we've ever seen".
In the mid-season, which begins in September, buyers have traditionally saved 50 to 70 percent of their sales.
But this year, Debenhams – which announced last month to close 22 stores – offers discounts of 90 percent, while House of Fraser and labels like Whistles and Jigsaw offer 70 percent off some items.
With the upcoming Black Friday sale on November 29th, stores will only sell products for a full week for a full week before the post-Christmas sale begins, retail experts said.
Deloitte's Jason Gordon said: "Mid-season autumn sales started earlier this year and are continuing for a while.
"While we traditionally expect discounts between 30 and 70 percent, we see discounts between 10 and 90 percent last year."
This year Debenhams – which announced last month to close 22 stores – offers rebates of 90 percent
Marks and Spencer offered up to 90 percent off at the end of its two-week sale, which ended last week. And John Lewis (pictured) reduces some articles by more than 50 percent
Richard Hyman, an independent retail analyst, added, "It has been a dreadful year and the most heavily charged retail market we've ever seen, with 90 percent revenue panicking and damaging to brands."
The recent sales figures indicate that an end to the worries of the high street is not foreseeable.
Figures from the British Retail Consortium show it was the worst September since 1995, when records began.
Sales fell by more than 3 percent between July and September of this year compared to the same period of the previous year. House of Fraser, which closed six stores last year after the administration was dissolved, offered rebates of up to 70 percent this week, including £ 750 for a £ 1,500 Vivienne Westwood coat.
Marks and Spencer offered up to 90 percent off at the end of its two-week sale, which ended last week.
In Uniqlo, where more than 60 percent of items are on sale, employees said, "We're in sales mode all the time, which has been the case for the past two months."
And Urban Outfitters employees, who cut the price of some items by 75 percent, said they sold "all the time".
Clive Black, a retail expert at Shore Capital, said, "It's a very tough market, cutting off the fat and getting to the skin and bones of the high street."