From October to December 2008, VoucherCodes.co.uk has enjoyed a 25 fold increase in people looking for online voucher codes to save money on Christmas shopping.
Launched in 2008, the website features discout codes for a host of high street and online retailers, from ASOS to Dorothy Perkins, Ikea to Zavvi.
Co-founder Max Jennings says: "This Christmas, online voucher codes and printable discount vouchers have proven to be a lifeline for shoppers who are starting to feel the pinch. As retailers struggle to woo price-conscious shoppers, it seems a deals war has been ignited between the major retailers as they try to out discount one another."
These statistics come in the wake of the fall of Woolworths and MFI whose weakened portfolios and poor performance was brought into high relief by the downturn. To avoid this fate, it seems most retailers are hurrying to shift stock, albeit at bargain basement prices.