Retailers Slash Prices to Lure Wary Shoppers as Weak Demand Takes Toll

• Retailers offering deep discounts to attract consumers as shopper spending slows • Weaker consumer spending pushing retailers to the brink amid high inflation and costs • December sales grew just 1.7% in the UK, down from 7% a year earlier, showing weak demand • Specialty retailers struggling the most as consumers cherry-pick purchases to save money • Matches fashion brand entering insolvency despite offering discounts up to 70%, showing depth of woes