Iceland has revealed that sales of its £1 or less range have soared this month as consumers looked to make savings after the costly Christmas period.
Sales of the supermarket’s value line jumped 61% in the first half of January, with demand for its £1 meals up 84% in the first week of the month.
Iceland added 50 more own-label and branded products to its £1 range earlier this month, boosting the offer to 700 items.
“Iceland customers told us how tough things were, and increasing our range of £1 products was key to supporting them,” said Executive Chairman Richard Walker.
“With year-on-year sales in January up by more than 60%, it’s clear how well this has landed with customers and with more than 700 products across the range, there’s something for everyone.
“On top of this, we’ll continue to do more to help families shop affordably, such as our recent 1p veg initiative and our continued support for free school meals.”
NAM Implications:
- The beauty of retail:
- Put on the shelf, and by afternoon the future is clear…
- And the media headlines write themselves…
- Well done Iceland!
