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Easter sales 'may harm retailers' Easter sales 'may harm retailers'
(about 7 hours later)
By Maryam Moshiri Business reporter, BBC NewsBy Maryam Moshiri Business reporter, BBC News
Easter weekend is traditionally one of the busiest in the year for the High Street and, this year, marks the first Easter sales since the start of the recession. Easter weekend is traditionally one of the busiest in the year for the High Street and this year marks the first Easter sales since the start of the recession.
M&S is among High Street retailers offering big discountsM&S is among High Street retailers offering big discounts
Many shops are offering their biggest discounts so far to get us to part with our cash.Many shops are offering their biggest discounts so far to get us to part with our cash.
While price cuts of up to 70% may sound good for consumers, there are warnings that stores may be doing damage to their business that could last long after the recession is over.While price cuts of up to 70% may sound good for consumers, there are warnings that stores may be doing damage to their business that could last long after the recession is over.
This year, most of the big-name retailers are going that extra mile to get the shoppers in.This year, most of the big-name retailers are going that extra mile to get the shoppers in.
Marks and Spencer is holding its traditional Easter sales, with 50% off. But on top of that, over the past six months, it has held two one-day sales, in an effort to lure shoppers in.Marks and Spencer is holding its traditional Easter sales, with 50% off. But on top of that, over the past six months, it has held two one-day sales, in an effort to lure shoppers in.
House of Fraser has also been holding its own events - they last two days and also give big discounts to customers.House of Fraser has also been holding its own events - they last two days and also give big discounts to customers.
We are seeing more discounts, deeper discounts, more widespread discounts at Easter than we've seen for a very long time Richard Dodd, British Retail ConsortiumWe are seeing more discounts, deeper discounts, more widespread discounts at Easter than we've seen for a very long time Richard Dodd, British Retail Consortium
Debenhams is one of the biggest discounters - its Blue Cross sale, last year, lasted one day. This year, it lasts longer and gives up to 70% off.Debenhams is one of the biggest discounters - its Blue Cross sale, last year, lasted one day. This year, it lasts longer and gives up to 70% off.
It all sounds good for shoppers, but what difference does it make to the way people shop?It all sounds good for shoppers, but what difference does it make to the way people shop?
Bryan Roberts from analysts Planet Retail says: "Many consumers are actually expecting these events now, so they are deferring purchases and waiting for these hefty discounts.Bryan Roberts from analysts Planet Retail says: "Many consumers are actually expecting these events now, so they are deferring purchases and waiting for these hefty discounts.
"There's no need for them to pay full price for any of these products any more, so I think long term, retailers could be damaging the sustainability of their business models.""There's no need for them to pay full price for any of these products any more, so I think long term, retailers could be damaging the sustainability of their business models."
Hurting the brandHurting the brand
That's an opinion shared by brand expert Graham Hales from Interbrand.That's an opinion shared by brand expert Graham Hales from Interbrand.
"If you're not seen as being a discounter," he says, "it's quite a difficult message to convey within your brand."If you're not seen as being a discounter," he says, "it's quite a difficult message to convey within your brand.
Constant sales may be eroding shoppers' willingness to pay full priceConstant sales may be eroding shoppers' willingness to pay full price
"So it's quite an uncomfortable experience for the brand and it probably leads to an erosion of brand value over time."So it's quite an uncomfortable experience for the brand and it probably leads to an erosion of brand value over time.
"For consumers, it just teaches them to shop for discounts and bargains.""For consumers, it just teaches them to shop for discounts and bargains."
That may be so, but the retailers believe that this year, they have little choice but to cut prices.That may be so, but the retailers believe that this year, they have little choice but to cut prices.
Richard Dodd of the British Retail Consortium says it is a tough time for the High Street.Richard Dodd of the British Retail Consortium says it is a tough time for the High Street.
"I think we are seeing more discounts, deeper discounts, more widespread discounts at Easter than we've seen for a very long time," he says."I think we are seeing more discounts, deeper discounts, more widespread discounts at Easter than we've seen for a very long time," he says.
"And that's what retailers are having to do - it's been a really difficult first quarter to the year.""And that's what retailers are having to do - it's been a really difficult first quarter to the year."
So it looks like this could be a happy Easter for shoppers with cash and an eye for a bargain.So it looks like this could be a happy Easter for shoppers with cash and an eye for a bargain.
But with the long-term possibility of consumers driving down prices even further, and retailers suffering as a result, the fear is that we could all end up paying for it.But with the long-term possibility of consumers driving down prices even further, and retailers suffering as a result, the fear is that we could all end up paying for it.