Poundland is seeking to showcase the value of its expanded grocery range by introducing new displays in all its 800+ stores that double down on its £1 heritage.
The move aims to highlight that there are over 1,000 grocery items in every Poundland store priced at £1 or less to appeal to cash-strapped consumers.
In recent years, Poundland has broadened its range to include multiple price points. However, the retailer stressed that it’s “still the home of the pound”, with around a third of all its grocery items at that price or below.
It added that it “remains committed to offering a significant proportion of its ranges at £1 or below, even as it expands ranges to offer customers amazing value in whole new categories such as chilled and frozen food, homewares and clothing.”
Figures released last week showed that like-for-like sales at Poundland had fallen 6.9% over the three months to 30 June, with the group blaming challenges related to the introduction of new Pepco-sourced clothing and general merchandise ranges.
NAM Implications:
- Given increases in levels of inflation…
- …maintaining a “still the home of the pound” strategy becomes increasingly expensive to maintain.
- Therefore reducing the number of £1 products to a more manageable ‘eye-catching’ level…
- …might better protect the bottom line.
