Poundworld to launch wholesale site

Poundworld is to launch a wholesale transactional website next year in a bid to drive revenue growth.

The single price point retailer already trades some of its store stock on a wholesale basis, currently generating revenue of about £1m. Trading director Chris Edwards said this could grow to £5m with the new website.

Poundworld’s website, ITPimports.co.uk, will be aimed at market traders and small retailers.

Other retailers have also been diversifying during tough trading. Stationer Ryman revamped its business-to-business service last year.

Single price point retailers have not yet made the jump to selling online to customers because of the disproportionate costs involved with selling low-priced goods. However, competitor Poundland has said it expects to launch online in the next two years.

Edwards said trading had remained strong at Poundworld, which has 158 stores, with like-for-likes up between 2% and 3% in its current financial year.

Source : Retail Week
www.retail-week.com/multichannel/poundworld-to-launch-wholesale-site/5031277.article