Sales goods are stacked high and sold cheap

Those shopping at post-Christmas sales between 26 and 28 December rose 2.1% said retail information group Footfall.

Many leading firms in the important retail sector depend on shifting large amounts of stock in the sales.

Earlier this week John Lewis said it was hoping to enjoy buoyant sales in the post-Christmas period by offering 50% off prices on certain items.

The retailer's statement came after it said like-for-like sales for the 28 days up to and including 23 December fell 1.2% from a year ago.

'Intention to spend'

Growing consumer debt and five interest rate rises have led to fears the UK's economically important retail sector might suffer a poor holiday period.

But the British Retail Consortium (BRC) has predicted shoppers would be spending more than �5bn in the days after Christmas.

"Although the pre-Christmas trading frenzy has quietened slightly, shopper volumes are still up on last year - consumer confidence and Christmas festivity rolling over into the early sales, " said Footfall analyst Sheelah Turner.

She continued: "The year-on-year increase for these first three days of sales in comparison to 2003 is encouraging, indicating that shoppers still have the intention to spend.

"We know, however, from the pre-Christmas trading that shoppers are savvy bargain-hunters."

Items not needed

Evidence seemed to point to shoppers preferring to spend time with friends and family over the Christmas period, said Ms Turner.

"And yet, the sales appear to have provided the necessary enticement, and shoppers have returned to the stores."

Its figures showed Boxing Day custom was down by 16.1% compared to 2003.

However Tim Denison at retail analysts SPSL said this may have been because Boxing Day was a Friday in 2003, rather than Sunday this year.

A survey from online bank Egg found one in three people bought items they did not need when prices were cut.

It said as much as �1.5bn could be wasted on unwanted bargains just because they are on sale.

And research from Yorkshire Bank said many shoppers end up paying way over the original price of their bargains by buying them using credit or store cards.