Poundland is continuing to move back towards its single-price point roots to appeal to cash-strapped consumers during the cost-of-living crisis.
From this week, the retailer’s 800+ stores across the UK are being reset to double the number of £1 lines, including the entrance ‘power wall’.
New pound examples include Cadbury Dairy Milk (95g), Gillette Shave Foam (200ml), Domestos Bleach (750ml), and Toilet Duck Pine (750ml).
The discounter had shifted towards a multi-price offering in recent years, with only around half of its products priced at a pound. However, in June, the business announced that it was increasing the proportion of its range costing £1 or less to 60%.
Poundland has also been ramping up its food offering in an attempt to become a viable alternative to traditional supermarkets. This recently included the rollout of new fresh meat and fish range under the ‘cookit’ brand.
The group confirmed yesterday that by the autumn, around 350 of its stores – nearly half the chain – will offer its chilled and frozen food offering, alongside new categories such as PEP&CO clothing and homewares, as it refits sites under its Project Diamond programme.
Austin Cooke, Poundland’s Chief Operating Officer, said: “Right across the country, our colleagues are working hard to bring their communities more value, in more places, on the items they want and need, week in, week out.
“And as we extend into exciting new categories such as chilled and frozen food and clothing, whether customers want a full shop or to top-up, we’re continuing our mission to deliver the very best value, on the items we know our customers need most.”
NAM Implications:
- And why not, given its compelling message…
- …so in tune with the times.
- Making any alternative retailer seem expensive by comparison…
