90 per cent of retailers are currently on Sale or discounting, according to PricewaterhouseCoopers.
The advisory firm said this level of discounting is the same as before Christmas and in the January Sales, indicating that UK retail remains under pressure with retailers trying to drive footfall.
The report, covering 100 high street retailers, found average discounts currently being offered are over 60 per cent.
It said there is an element of “destocking”, with retailers trying to shift some out-of-season stock in order to get cash into the tills. It said discounting is also spread across all segments of retail, with luxury brands, mid-market fascias and value players all promoting sales, in shop windows and on their websites.
PWC analyst Mark Hudson said: “Following the peak level of discounting in the January Sales many stores have continued to promote discounts throughout 2009, to extent that some corners of the UK high street seem to be on constant Sale. Discounting will be an ongoing trend for UK retailers for the rest of 2009 and through the first half of 2010. This is good news for consumers, but less positive for retailers, whose margins have been and will continue to be under constant pressure.”