British discount variety retailer Poundland that sells the majority of items at £1. The first pilot store opened in December 1990 following numerous rejections by landlords who had reservations about allowing a single-price store to operate, fearing it could adversely affect the local competition. Poundland acquired closest rival 99p Stores in 2015, which left Poundworld as its closest competitor until it went bankrupt in 2018. Since August 2018, Poundland has been the category killer of the pound shop format in the UK. Poundland has capitalised on the way shopping habits have changed during the tough economic climate of recent years. The retailer’s performance has been boosted by the expansion of Pep&Co fashion shop-in-shops within its larger Poundland stores and the addition of multi-price areas in its stores. Although the retailer does not have an ecommerce arm, its website operates as a shop window and it is proactive across social media. The installation of self-scanning check-outs, with celebrity guest voices, also represents Poundland’s awareness of its need to appeal to new audiences.
Poundland has confirmed it will open seven more former Wilko stores before Christmas, taking the total number of Wilko-to-Poundland stores to 63.
Poundland has opened its first Black Friday event, with deals available both online and in stores.
Poundland has not yet reached an agreement with the landlords of more than 15 former Wilko sites, which it had intended to reopen under its own brand.
Poundland has completed its rollout of new clothing ranges by parent company Pepco Group to 560 stores across the UK and Ireland.
Poundland is aiming to open or relocate 75 stores by the end of December.
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