Sometimes Channel 4's Dispatches series deals with terrifying and hard-hitting subjects and social problems. Like on Monday night, for instance, when it focused on the truth about discount shopping at stores such as TK Maxx and outlets like Bicester Village.

There has always been something baffling about these places – and I speak as a seasoned Century 21-er (the king of discount shopping) whenever I am in New York. 'How can the Margiela dress that I recognise from the catwalk a year ago be here? And how can it be so cheap?' you might wonder on your first trip. By your second and third, you just grab before anyone else can.

But the programme spoke of garments made especially for outlets – yes, cheaper than the usual designer pieces but deliberately made so with less luxurious fabrics or more simple cuts. So we decided to go and see what we could find in the run-up to Christmas, when you should be spending on others but might just end up buying yourself a little something.

First stop Céline: a recent addition to the the 'Village and packed with the sort of pieces that has made this label one of fashion's current most wanted. They aren't the must-haves or the instantly recognisable bestsellers you see on the pages of magazines, but here are classic black trousers, fine gauge knits, clever shirting and quality leather handbags and pochettes – with the all-important label, of course, but also with a hefty 80 per cent slashed from their prices. That's what it says in the window, anyway.

I tried on a pleat-back white shirt (left) reduced from £1,300 or so to the region of £300. It's lovely, of course, and would be great gift to yourself if you had the cash. There was also a petrol blue tabard top (right) that I recognised as a spring 2012 runway piece for £190, down from £475. And then a whole host of shoes: beautiful shoes recognisable from shows and selling collections, perhaps not the most recent ones, but who cares. Alas, they none of them were left in my shoe size though.

By far the most popular shop – at 11.30 in the morning anyway – was the Mulberry outpost. This and Michael Kors a little further down seemed the hot tickets for Christmas shoppers, including legions of dutiful dads and boyfriends who had been given orders to return with such and such an It-bag. This Mulberry Del Rey that I spotted could only have been a few seasons old (the style launched for autumn 2012) and was reduced from £895 to £626. The styles available here might not be the classics or the It-ty ones you'd get at full price – the black, the tan, the Alexas – but there were Bayswaters in various shades and some lesser known styles that were no less lovely than their more famous counterparts.

Next, I went to Marni, where there was a big sign up advertising the recent arrival of the resort 2013 collection. Not bad, given that was only in shops last January – and here it was, recognisably the same cream silk dandelion-print blouse that SamCam had worn at London Fashion Week last February (£165 from approx £400), the boxily cut tan leather jacket that I'd tried on in the fashion cupboard (£800 from £1100), and the embellished tunic I tried on today (£330 from £500). Not only that but I recognised pieces from spring 2013 in there too, as well as the classic Marni flatform shoes that don't tend to fluctuate much between seasons. You certainly wouldn't feel passé in any of this lot. And, if you avoided the furs, a lot of it came in at under £400.

I was intrigued as to what I'd find at Fendi, which is so uber-luxe as to be astronomically expensive for mere mortals and is designed by Karl Lagerfeld. No matter how hard I tried, I just couldn't imagine what Karl would make of Bicester Village. And true, there were a lot of pieces that the label's long-term (and very rich fans) might snap up (a mink jacket for £8,000 down from £12,000: dream on), but there were also catwalk pieces from a year or so ago. The sculptural heels (right) inspired by the Sydney Opera House were £495 from £985 were straight from the spring 2013 catwalk, while simple pieces from the selling collection lacked none of the high-end finish that their full-price alternatives had. On the left here, an interior vinyl pocket detail on a grey wool shift marked down to £155. Which is what I would call a snip.

In a brilliant move, Bicester also has a host of shops that don't fit into the same super-starry luxury bracket as the ones above: Rag & Bone and Sandro stand out in particular as palces where you can get really great bargains that are worth paying for but won't set you back more than £200 – depending on the pieces, of course. But in Sandro, I spotted baseball caps that were in store not more than a year ago going for £20 and denim blouses that you'd get everyday wear from for £60. And they would have been £120 at one point. So it'd be churlish not to at least have a look in.

And the final category of purchase at Bicester Village – one that is often great for Christmas presents too – is the 'rite of passage' item. Which includes a Ralph Lauren cashmere jumper, perhaps, or a Miu Miu wallet (£180 rather than usual £300 starting price). These pieces call out like sirens – they feel more sensible than they do impulsive, because what woman doesn't need a Miu Miu wallet? Far better you buy yours here for a fraction of the usual price. Sold, to the woman in the baseball cap with about 500 carrier bags.