Hot on the heels of Tesco and their 35 quid little black dresses, comes Asda and their version of the credit-crunch busting party frock. Yes, these ladies and gentlemen are only £12... and aren't they just little beauties?

These classic designs are made from viscose and have fashionable little touches which bring them into 2008, such as the lace cap sleeves and diamante detailing. Sitting at knee-length ensure they will flatter a number of body shapes, and if you are more into an above-knee (or indeed, thigh-high) look, then a tailoring bill on top of £12 doesn't seem too crazy if you are interested in modifying it for that point of difference.