John Lewis and Marks & Spencer are among the street giants offering savings of up to 70% today

Stores are launching their January Sale online today as they seek to shake up a large amount of unsold stock as families cut back on holiday spending.

Savings of up to 70 percent off are available from names including John Lewis and Marks & Spencer, whose sales are posted online today.

They’re joining chains like Boots, Currys, and House of Fraser that are already running Winter Sales.

Argos and Habitat will go live with January sales on furniture, home and garden products on Christmas Day, while Amazon waits until Boxing Day.

Today, stores are launching their massive “January Sales” online as they seek to turn over a large amount of unsold stock

Traditional Boxing Day sales with consumers queuing in the cold are being wiped out by turning to online shopping.

Millions will be looking for bargains from the comfort of their homes over the weekend, as one estimate suggests Britons will spend £1 billion on Christmas Day.

Most large retail parks, such as Bluewater, Westfield, Trafford Center and Bicester Village will be open from 7am to 8pm on Mondays. However, a number of retailers, including Next, John Lewis and M&S, will not open stores until Tuesday in order to give hard-pressed employees a break.

Bargains are promised across fashion, home appliances, and big-ticket items such as furniture.

We expected a bit of austerity at Christmas, and so it turned out, said retail and delivery expert David Jinks of ParcelHero. There’s no hiding the fact that this Christmas there won’t be a single retailer looking back with any enthusiasm.

Traditional Boxing Day sales with consumers queuing in the cold are being wiped out by turning to online shopping

Traditional Boxing Day sales with consumers queuing in the cold are being wiped out by turning to online shopping

He added: “Retailers are sitting on a massive amount of unsold stock and there could be some rich selection, particularly the ‘New Year’s Eve’ sales that actually start on Christmas Eve these days.

Jenks suggested that a number of retailers plan to write off lots of stock, such as fast fashion and toys, and possibly pass them on to outlet and discount specialists, rather than putting them up for sale.

“Major retailers are actually writing off unsold stock, particularly winter fashion items, and are looking to move on from a terrible year of trading. It might be worth visiting your local discount outlets if you have one nearby. Coupon Codes, which produce annual spending forecasts in Holidays, that £1.13 billion will be spent today with around £840 million of this in high streets and shopping centres.

It expects £1.08 billion to be spent in online sales on Christmas Day. A spokesperson said: “The fact that railway strikes start at 3pm on Christmas Eve will hurt retailers as people scramble to get home.” Many will avoid sales because the cost of living crisis has left them without extra cash. Research for AJ Bell found that 34 percent are spending less this year.

Among this group, 63 percent said they had less disposable income, while 49 percent blamed the cost-of-living crisis.

Andy Mulcahy, director of strategy at IMRG, the online industry trade body, confirmed that retailers are sitting on unsold stock.

It expects £1.08 billion to be spent in online sales on Christmas Day

It expects £1.08 billion to be spent in online sales on Christmas Day

The number of people browsing websites during the month of December was high, but the conversion rate — the percentage of people who make a purchase — was down about 20 percent.

“It doesn’t look good,” he said, “I think December is going to be poor.”

He added: ‘The shops were hoping to sell a lot of TVs around the World Cup, but that didn’t happen. On the plus side, there were positive sales of energy efficient products, such as air fryers.

Giant Bluewater shopping center alongside the M25 in Kent should have been rocked yesterday in what analysts dubbed ‘Frenzy Friday’. However, photos showed spaces in the parking lots and lack of crowds. The center said it did not comment on viewership numbers.

Springboard, the retail traffic counter, said footfall on high streets, retail parks and malls was higher yesterday than on the equivalent day last year. At noon, main streets rose by 6.6 percent, retail complexes by 10.8 percent, and shopping centers by 18.3 percent. “We’ve seen a good festive period with guests looking for the best deals and enjoying the festivities,” said Bluewater.

“sitting on a lot of unsold stock”

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