Shoppers searching for bargains in the seasonal sales may find they are a year too late for the best deals, according to experts.

Retailers offered huge discounts at Christmas in 2008 as they had excess stock when the financial crisis struck.

But this time, recession-hit stores were more cautious with the amount of supplies they bought in.

However, shoppers could still be attracted to big-ticket items ahead of the value-added tax rise on 1 January.

The sales tax will return to 17.5% from 15%, potentially pushing up the prices of goods such as dishwashers and fridge-freezers significantly.