Poundshop.com, one of the first single-priced transactional websites, is aiming to extend its product range outside that of its backer and supplier Poundworld.
Poundland co-founder Steve Smith, who runs the online business with Poundworld, said he is looking to extend its online offer through other parties that can sell products for a pound .
Smith said: “We’d like to see a lot more products on the site. We would like to double the size of the range. We have about 1,000 lines online at the moment and we could easily have 2,000 to 3,000.”
Smith revealed that he is searching for companies that can add to its current general merchandise offer but that do not conflict with the partnership it already has with Poundworld.
He said businesses that have approached him so far include companies that manufacture business cards and mobile phone sim cards.
Poundshop.com launched in February, becoming one of the first single-price point retailers to sell online. Pound shops have found it difficult to open online sites due to their value-focused business model which mean average transaction values are low. Poundshop.com has tackled this issue by imposing a minimum £10 spend on orders.
Although Poundworld declined to give any sales figures for the website, Smith said Poundshop.com customers on average spend £30 per transaction, above the anticipated £23 at this stage. Its largest order has been £700.
Smith revealed that small businesses have been placing orders, such as hairdressers purchasing shampoo in bulk.