London retailers cut shop prices
21 December 2013 Last updated at 17:26 GMT
Many shops in the capital have starting cutting prices on what is traditionally the busiest weekend of the year for sales.
Figures suggest there has been 10% fewer shoppers this Christmas compared with last year.
But Sally Eden from New West End Company said it was a change in attitude rather than a fall in shoppers.
" I think in the last few years people have got more savvy, they want more for their money and retailers know they've got to work harder to part shoppers from their pounds and that's why there are promotions," she said.
BBC London's Gareth Furby reports