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Marie Claire Fashion News: Marks & Spencer

It looked like business as usual yesterday as shoppers flooded the High Street to start their Christmas shopping.

But the crowds were drawn by massive price cuts and special offers, rather than seasonal shopping habits.

Marks & Spencer slashed 20 per cent off everything in store, while Debenhams, BHS, WH Smith and other stores offered shoppers giant discounts to beat the credit crunch.

The M&S 24-hour deal meant shoppers practically stripped the shelves, with Christmas gifts, wine and champagne proving the most popular items.

'It seems to have touched the spot. It's a riot,’ says executive chairman Sir Stuart Rose said.

Some sneaky shoppers were even returning items bought in the past few weeks, then buying them back at the discount price, reports the Daily Mail.

Retail analysts say all the special offers mean it is ‘a very good Christmas to be a customer’.

'Retailers have reacted to the economic slowdown with wide-ranging discounts and promotions. This is a great time to pick up a bargain for Christmas,’ says Stephen Robertson, the director general of the British Retail Consortium.

Debenhams is holding a 25 per cent off three-day event, with more in the pipeline, while Marks is planning more 20 per cent days.

Gap is regularly running 30 per cent off deals for customers, BHS has cut 20 per cent off many items, and Dorothy Perkins, Laura Ashley and Argos have also slashed prices.

If you plan to take advantage of the great offers available, try to make sure you are actually saving money – sticking your shopping on a high-interest credit card means you could end up paying more in the long run.