Poundland is that weird place where you can get a massive variety of stuff, of varying quality, without having to worry about silly things like whether the shelf is displaying the right price. Well that might be changing, since the company's new owner wants to add a new 'multi-price point' range of goods.
Poundland was purchased by South African company Steinhoff for £610 million last year, who clearly have some big changes planned. In addition to stocking products that cost more than £1, it apparently they want to stock more clothing, improve the supply chain, and optimise the store network.
Despite having closed 57 loss-making stores in the six months preceding 31st March, Steinhoff has reportedly been pleased with the amount of trade being done at Poundland stores - noting that business had exceeded their expectations. It's hardly surprising, discount chains have been doing good business since the last recession, and with the pound tanking following the Brexit vote there's a lot of demand for cheap shit. The London Evening Standard is reporting that other discount chains —namely Lidl, Aldi, and B&M— have also seen a rise in sales.
How do you feel about Poundland stocking more expensive stuff? The name might need a change after a few months, and it means shoppers will have to pay a bit more attention to whatever they pick off the shelves. Still as long as the stuff is cheap, and not overly terrible, I can't see the harm.
For everyone still hoping to get stuff at for the low, low price of one hundred pence, at least we'll still have Poundworld. [London Evening Standard]
Image: Karen Bryan