Poundland trials permanent sub-£1 ranges for first time

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Poundland pilots new move in transformation to simple price retailer
Poundland is introducing permanent price points of 50p and 75p for the first time.
// Poundland pilots new move in transformation to simple price retailer
// Trial will focus on introducing permanent sub-£1 price points of 50p and 75p
// There will also be a wider spectrum of £1-plus price points, adding £1.50, £3 & £4 ranges to the £2 & £5 marks introduced in 2017
// Trial will run across 24 stores in the Midlands

Poundland has announced the next stage of its transformation from a single price retailer to a simple price retailer, with the pilot of permanent sub-£1 ranges for the first time.

The discount retailer said the new pricing architecture will test a wider spectrum of price points, introducing sub-£1 price points of 50p and 75p for the first time.

Although Poundland had occasionally offered products at 50p in certain stores as “Manager’s Specials” and in post-Christmas sales, the pilot is the first time it has offered permanent and dedicated ranges at these lower price points.

Examples of sub-£1 products include 500g Napolena Passata and 75g Princes Sardine and Tomato Paste at 50p, and 100ml Colgate Toothpaste at 75p.

The trial will also feature a wider range of £1-plus price points, adding £1.50, £3 & £4 ranges to the £2 & £5 marks introduced in 2017.

The new pricing trial is taking place across 24 stores in the Midlands and is Poundland’s latest move in its transformation into a simple price retailer.

While the new scheme introduces a broader range of simple price points, Poundland said three-quarters of items in its pilot stores will still be at the core £1 price point.

The retailer said that by broadening the product range, it will be able to use its sourcing and distribution strength to provide more opportunities for customers to save money.

“While three quarters of the products we offer will still be £1, it’s important we look to broaden our ranges elsewhere, whether above or below £1,” Poundland managing director Barry Williams said.

“These extended price points mean we can meet an even greater range of customers’ needs, while offering the same outstanding Poundland value.”

The pilot also builds on the retailer’s success with its Pep&Co shop-in-shops, which are now in more than 300 Poundland stores across the UK and Ireland.

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