Nicholas Craig column

Jan 13 2006 By Nicholas Craig, The Journal

For the first time in many happy, peaceful years I have experienced the full horror of a day at the sales. I may recover in time: my bank balance may not.

The reluctant excursion to bargain-hunt was prompted by a house move, and the apparent need to fit out the new abode from top to toe.

Two highly experienced shoppers accompanied me, both of them quite at home in the frenzy of Newcastle's Northumberland Street, or the vast furniture emporiums of the MetroCentre.

One whole day of my life was given over to tapping in a wretched pin number while purchases piled up relentlessly. As a Guinness Book of Records attempt, it could well be a winner.

Each item was, however, a must-have bargain because it was significantly less than the original price. I did not see the need for some of these bright new things at full price, and still don't now.

The memorable event brought home how much prices are slashed in the sales. 50%, 70% and 75% off is a massive cut for retailers keen to capitalise on customers who have willingly opened their purses in recent months.

Given the long, slow return to consumer spending, they must have hoped for more gentle reductions than those on display at all the city chain stores.

According to the British Retail Consortium, it was the best December for retailers since 2001. But trade dropped off noticeably after the first two days of the post-Christmas sales. The percentage numbers slashed off sale prices went up as a result.

Sales clear the boards for retailers, and all of them will look forward to picking up business again when the days lengthen sufficiently for us to see what's on offer in the windows.

As a shopping, rather than a saving region, the sales are popular in our local cities. They suit our value for money mentality, our competitive natures and our slightly aggressive streaks - I have the scars to prove it.

I hope they serve their purpose for the businesses, and that 2006 continues the promising upturn for the large department stores, and stops the depressing downturn in sports shops - one of the few retail sectors I quite enjoy visiting.

Until then we face the final days of the sales.

Believe me, they have ways of making us spend - until the end.

Nicholas Craig is a partner at Watson Burton LLP.