Poundland is cutting the price of some of its best-selling products, many of which are being reverted back to its renowned £1 price point.
The move, dubbed ‘Operation Sell for Less’, has seen the reductions rolled out across 800+ stores from today, with the retailer claiming it is passing on the benefit of lower costs to customers.
Examples of items falling from £1.25 to £1.00 include Dettol surface wipes, Harpic cleaning gels, Johnson’s cotton buds, Nivea shower creams and Lynx deodorant.
In addition, six-pack Seabrooks, Cheetos and Smiths crisps will come down from £1.50 to £1.00, and one-litre bottles of Coca-Cola will be reduced from £1.65 to £1.
Poundland has also cut the price of a number of items to below £1. Pot Noodles are being reduced from £1.00 to 85p, Disney baby wipes from £1 to 75p, and various Bodyform lines from £1 to 85p.
Tim Bettley, Poundland’s Trading Director, commented: “We’ve worked hard since the beginning of the cost-of-living crisis to maintain our promise of amazing value to customers – and our consistent, steady growth shows they’ve noticed. But we also know the pressures are still real.
“We know that discounters like us passing on cost savings quickly can help lower prices right across the market and drive inflation down faster.
“We’re committed to that mission of delivering amazing value – and it we know how much that matters to our customers.”
In recent months, Poundland has accelerated the rollout of its expanded food and drink range in a bid to compete with traditional supermarkets. Recent quarterly results showed that the chain’s like-for-likes were up a healthy 9%, which was attributed to strengthening FMCG performance.
NAM Implications:
- Given high levels of inflation…
- …products selling at £1 have to be more appealing.
- Providing an increasing competitive edge vs rivals…
- …as evidenced by like-for-likes up a healthy 9%.
- One to watch, as always…
