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.
As non-essential retail reopens its doors in England on April 12, Retail Week visits key shopping locations to gauge retail offers and shopper appetite.
Poundland’s owner Pepco Group has reported an uplift in full-year sales as it plans to open 400 new stores per year.
Fix Price, Russia’s version of Poundland, has set a course for a London stock market listing.
Poundland parent company PepCo has reported an uplift in first-quarter revenue boosted by the introduction of new price points and product lines.
Value giant B&M and specialist retailer Pets at Home have become the latest retailers to waive business rates relief after Tesco sparked a spate of such initiatives earlier this week.
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