Last minute shoppers are set to bag the best bargains ever in the run up to Christmas, as retailers discount items by record levels.

Shops are currently discounting stock by an average of 44 per cent, and this is expected to rise to 48 per cent by Christmas Eve – a new record high.

Where are the best pre-Christmas sales?

A wealth of UK retailers have already rolled out huge discounts in stores and online, presenting shoppers with some welcome bargain deals ahead of Christmas.

Here are some of the best sales currently on offer if you’re still on the hunt for the perfect gift.

Marks and Spencer

Shoppers can enjoy up to 50 per cent discount on Christmas decorations, gadgets and gifts, including beauty and homeware.

Topshop

Coats, knitwear, cold weather accessories, and going out clothing are up to 50 per cent off.

Argos

The catalogue retailer is running its lowest ever toy prices sale, including discounts on selected LEGO, Barbie, Vtech and Playmobil, among others.

Debenhams

There’s up to half price discount on womenswear, shoes, kidswear, beauty and fragrance, along with up to 30 per cent off men’s and women’s watches.

Matalan

Discounts of up to 50 per cent off Christmas decorations and gifts, and 25 per cent off nightwear and slippers are on offer both online and in store.

Boohoo.com

The online retailer is currently offering 24 per cent off absolutely everything for 24 hours only (beginning 18 Dec), as well as 30 per cent off menswear.

ASOS

There’s up to 50 per cent off fashion, footwear, gifts, accessories and more while stocks last.

H&M

Up to 40 per cent off selected men’s, women’s, children’s and homeware is up for grabs.

Dorothy Perkins

There’s up to 50 per cent off selected fashion and footwear.

Office

Enjoy up to 50 per cent off selected party shoes, and up to 30 per cent off selected UGG and Timberland lines.

John Lewis

There’s up to 30 per cent off Christmas decorations and accessories.

Miss Selfridge

The retailer is offering up to 50 per cent off selected clothing, plus an extra 10 per cent off with the code EXTRA10 on online orders.

Tumbling prices

According to a report by accountancy firm Deloitte, an over-supply of unwanted stock, caused in part by the mild winter weather, is to blame for tumbling high street prices.

Varying levels of success with promotional events such as Black Friday, as well as general economic and business uncertainty, have also pushed retailers to slash prices in an effort to shift unsold stock in the run up to Christmas.

The firm analysed more than 800,000 products and found there is a wide spread of discounts already available across the retail market, with prices drops ranging from less than 2 per cent to more than 80 per cent.

It is anticipated these discounts will continue to grow as Christmas approaches, reaching an average of more than 52 per cent from Boxing Day onwards.

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