Discount retailer Poundland has announced it will increase the number of products it sells for £1 or less. It comes as a welcome move for shoppers feeling the pinch as the cost of living crisis continues to hit customers.
At present, around half of the budget chain's products are priced at £1, and the company plans to increase this figure to around 60 per cent of its items to offer better value for shoppers.
Poundland has around 850 stores in the UK, and will predominantly be focusing on the value of single items, so customers don’t need to buy in bulk to save cash, the Mirror reports.
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The retailer has reported an increase in customers visiting its stores for their weekly shops, and as a result, are expanding its frozen and chilled food range, seeing fridge and freezer sections added to 100 more stores.
Once the latest transition is complete in September, almost half the Poundland chain – over 350 stores – will offer customers chilled and frozen food. This comes alongside whole new categories such as PEP&CO clothing and homewares.
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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