Poundland has announced that it will now go back to selling most of its products for £1. It comes after the budget store officials said they need to meet the needs of its customers during recent price rises.
The retailer has said it will lower prices to help customers across the UK as the rate of inflation soars. Poundland will now stock more items at its £1 price point to support shoppers wanting to save money.
It will also be ensuring single items are priced better so customers don't feel like they need to buy in bulk to lower costs. Poundland officials have been revamping their stores so that around 60 percent of what they sell is priced at £1 or less.
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The budget chain is also expanding its ranges so that customers will be able to do a weekly shop there. Staff are speeding up their rollout of chilled and frozen foods to stores across the UK.
Poundland has seen a rise in frozen food sales as customers turn to those products to cut back on food waste and managing budgets. Barry Williams, Poundland managing director, said: “It’s clear customers are shopping more intentionally and that’s why we’re leaning into our £1 price point.
"While we don’t have a magic trick up our sleeves to counter inflation, we know that those who work hardest to keep costs low will end up winning customers’ trust. The promise we make to customers that we can deliver amazing value, has never been more important. We’re determined to not let them down. That’s why we’re offering more of what they want, at a price that recognises they need their money to work as hard as it can.”
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