Shoppers to get biggest summer sales ever in desperate bid to shift unsold stock

Shoppers will be able to snap up some of the best sale bargains ever this year as retailers try to shift masses of unsold stock.

The coronavirus lockdown means high street shops are likely to be offering huge discounts of up to 70% over the summer, according to retail analysts.

July, August and September will be an "absolute bonanza" for shoppers, the Times reports, as businesses scramble to sell seasonal clothing to generate cash and free up warehouse space.

Analyst Clive Black of Shore Capital told the paper that with all non-essential shops having been shut since March 23, a "tidal wave" of cheap clothing is on its way.

"Billions of pounds of stock is currently in ships on its way to UK shops and retail warehouses are already full to the gills," he said.

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This summer is set to be a "bonanza" for shoppers (Dan Kitwood/Getty Images)

"The magnitude of what has happened has never been seen in modern times. There will be record discounts."

Mr Black advises bargain hunters to be "selective and patient", as good deals are likely to last throughout the summer.

Clothing sales have dropped by 50% since lockdown (David Cliff/NurPhoto)

Figures from the Office for National Statistics this week show that retail sales fell by a record 18.1% in April, as shops have closed and Brits have tightened their belts during the pandemic.

Clothing sales have been hit even harder, dropping by 50.2% compared to March.

Although homeware stores and garden centres have recently been allowed to re-open, fashion retailers remain shut and are not expected to re-open until June at the earliest.

It means many high street brands will be offering discounts on a scale not seen before, with M&S, Whistles and Topshop already offering up to 50% off online.

New Look and H&M, meanwhile, have been cutting prices by up to 70%.

Non-fashion retailers are also likely to be putting on big sales.

Theo Paphitis, who owns Ryman and Robert Dyas, said his shops would be offering "fantastic bargains".

"We were already preparing for our spring sale when the stores were shut and I imagine that when the rest of the high street opens it will all be on sale," he explains.