Punters shopping around for bargain Xmas gifts

People looking to save money on Christmas gifts are not necessarily buying cheaper presents but instead trying to get real bargains on high value items.

That's according to editor-in-chief of Stuff magazine who says the credit crunch does not have to result in giving out budget presents.

Tom Dunmore said that many shops are actually reducing their prices on previously expensive goods which could make perfect gifts.

"The key thing here is that you can get great deals on products that perhaps you couldn't get before," he said.

He added: "I don't think it is surprising that people are spending a lot of money on Christmas presents. They do tend to go for high value items."

According to Mr Dunmore, the biggest presents of the last few years have been things like games consoles and mobile phones.

Figures show that UK retail sales were £265 billion in 2007, larger than the combined economies of Denmark and Portugal.

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