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Poundland Cuts 1,000 Prices; Announces Store Openings

Poundland Nottingham Riverside internal
  • Poundland adds to recent £1 store reset with 1,000 cuts to homeware prices
  • Poundshop.com introduces Value Heroes – and 1p value item each Wednesday
  • Poundland to open 10 stores before end of September and up to 15 by year end

Poundland today (Wednesday 3 August), cut the price of a thousand general merchandise items in its 800-plus stores, introduced new low-priced household staples online and confirmed it would open 10 new and relocated stores before the end of September with up to another 15 in the pipeline by the end of the year.

The latest move comes after Poundland reset stores to lean into its iconic £1 price point and after inflation hit a record 9.4 per cent last month.

Poundland’s move brings more amazing value in store, online and in new locations.

  • In store - Poundland’s general merchandise price cuts cover key categories such as gardening, DIY, homewares and kitchenware. Savings include a robot block pencil case reduced to 25p and numerous lines at £2 from hand and bath towels to vases, jars and storage boxes. In gardening, sale items include a Squirrel feeder for just £2.

  • Online – Its e-commerce business Poundshop.com unveiled its Value Heroes - a range of £1 household staples that help to beat inflation. Current Value Heroes – which can also be found in-store alongside even more £1 items - include Fairy Washing Up liquidFlash Cleaner and  Men’s Nivea Shower Gel for £1.  Poundshop.com is also offering an item for just one penny each Wednesday for even greater savings, while stocks last, beginning today with Elbow Grease Degreaser Original (500ml).

  • More places to find value - Poundland also today announced it would open and relocate 10 stores this summer as it presses ahead with its promise of bringing amazing value to town centres and retail parks across the UK.  The new openings stretch from South Wales and southern England to the north of Scotland.

Poundland’s store plans include high streets, retail parks and the latest in the pilot of the new Poundland Local neighbourhood stores to bring convenience to customers.

Those stores on track to open between August and September include Sutton Coldfield (Poundland Local); Canterbury, Marshwood Close Retail Park; Sheffield, Meadowhall Retail Park; Milton Keynes, Westcroft Retail Park (relocation); Aberdeen, Trinity Shopping Centre (relocation); Inverness, Telford Street Retail Park; and Broadstairs High Street.

Details of locations and timings of further stores will be announced in the coming weeks. The planned summer openings range from 1,800 to 12,000 square feet and will jointly employ around 150 full and part-time colleagues.

Up to 15 additional new stores and relocations are in the pipeline between October and December employing over 250 colleagues. Timings are subject to landlord agreements, planning consents and building works to complete the fit-out.

Poundland continues to actively look for sites across the UK to showcase its widening ranges - chilled and frozen food, clothing and homewares.

Commercial director, Tim Bettley, said: “We’re acutely aware how important value-for-money is right now for our customers – and that’s why whether it’s across grocery, clothing or homewares, we’re doubling down on our promise of amazing value.”

Chief operating officer, Austin Cooke, added: “The pressure on customers from inflation is real. While we’re serving more shoppers, that’s partly offset by customers being more intentional about what they’re putting in the baskets. That’s why we’re determined to bring more value to more places, in store and through our new online business.”

In addition to new openings, the business has continued to invest in stores through revamps and the rollout of chilled and frozen food through its Diamond and Ice programmes - now on track to reach 350 stores by the autumn.

Alongside its commitment to bricks and mortar network, Poundland has also expanded its online capability through the purchase of Poundshop.com, bringing value however customers choose to shop.

Source : Poundland

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03 August 2022

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