/24-7PressRelease/ - LONDON, UK, December 29, 2006 - Consumers are likely to spend more than 3 billion on bargains during the New Year sales. Stores and retail outlets are offering discounts of up to 70 per cent against pre-Christmas prices. The discounts follow a dull Christmas for the shops, with low enthusiasm blamed on the rise of online shopping, the mild autumn and credit-card debt.
People eagerly wait for this time of the year. The post-Christmas sales bonanza may bring bargain hunters to the fore.
Roger Bootle, an economic advisor to Deloitte Consulting, stated: "Consumers will wake up on 1 January and come back to reality with a bump as they face the poor state of their finances. Higher utility bills and interest payments mean less money is left."
Often people fall for bargains at this time of the year and later on find themselves in quandary only to take shelter in secured personal loans.
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