I went to the shops today. In one leading retailer there was a queue at the returns counters where staff at three tills were busy refunding the money. Many tills in the leading stores were unmanned, and there was no queue at most of the other tills that were being used. There were not that many people out on the High Street, and those that were bnought a coffee and maybe ended up with just one bag of goods, or none. Lots of staff were standing around with nothing to do.
I bought some glasses because they were marked down by 60% from their usual price, putting them below the 50% off sale offers I have paid for in the past for similar merchandise. I had in my mind the question would there be further price cuts in the next sales? The deflationary psychology puts people off buying, as you think if you leave it it might get cheaper.