A late Black Friday and a mild October mean seasonal sales have got off to a slow start, and hopes are not high

Shoppers may be preparing to swoop for Black Friday bargains this week, but retailers are expecting a “cautious Christmas”, with households concerned about high energy and housing costs, as well as the potential impact of the recent budget.

Trade has been slow in the run-up to the US-inspired promotional spree, which is a week later than last year, as shoppers held off buying presents in the hope they can snap up a bargain.