It really is quite depressing. As if we have not lost enough of our long-standing high street retailers the Sunday Telegraph reports new signs of desperation with thousands of supermarkets, department stores and independent shops making plans to open up on Boxing Day for the first time.
This is despite the fact that shoppers were out in force yesterday, attracted by the huge discounts on offer. Similar scenes are expected today as retailers predict that sales will total £6 billion for the weekend. Fiona Wilkinson, from credit card company Visa Europe, told the paper that sales peaked at 12.15pm yesterday when the company recorded 700 transactions being made every second.
Experts say that so far the massive cost cutting has failed to increase shops' turnover. More than two thirds of stores saw their turnover fall in the first half of December and footfall was down 11.2 per cent last week compared to the same time last year.
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