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  1. ITV Report

"Most of the shoppers seem to be male" West End expects to take £20 million on Christmas Eve

Shoppers in Oxford Street on the last day of shopping before Christmas Photo: Stefan Rousseau/PA Wire

High street retailers are discounting heavily, as they struggle to match last year's Christmas sales. The New West End Company, which represents 600 retailers in 25 streets including Bond Street, Regent Street and Oxford Street, says it's hoping to bring in £20 million on the last day of shopping before Christmas.

Shoppers on Oxford Street are taking advantage of huge discounts Credit: Stefan Rousseau/PA Wire

"Having been out there this morning most of the shoppers seem to be male, probably about three quarters, so there is a desperate rush to get those last minute gifts."

– JACE TYRRELL, CHIEF EXECUTIVE OF NEW WEST END COMPANY

A combination of mild winter weather and early discounting has left tens of thousands of retailers struggling in the run-up to Christmas. Retail expert Richard Hyman said 72% of the high street was already on sale, adding that he had "never seen anything remotely like it" over more than 30 years' analysis.

However figures from VoucherCodes.co.uk and the Centre for Retail Research suggests 22 million shoppers are expected to spend £3.74 billion on Boxing Day - a 6% increase on last year. In unexpectedly good news for the high street, the research predicts that 78% of total Boxing Day transactions are set to take place on the high street.

"Judging from our research, it looks as though consumer appetite to snap up deals is here to stay, both on the high street and online."

– CLAIRE DAVENOPORT, VOUCHERCODES