Poundland to move from 'single price' to 'simple price' with sub-£1 range

The discount retailer is to pilot permanent sub-£1 ranges in its stores, and will also test out selling a number of items for more than £1.

Poundland said the move is the latest stage in its transformation from a "single price retailer", which it says will allow it to cover more items demanded by customers.

The retailer said it has previously sold occasional "Manager's Special" items for 50p, as well as reduced post-Christmas sale items, but the pilot will offer the first dedicated ranges for under £1.

Poundland said it is transforming itself to be a "simple price retailer", rather than stick with its ethos of selling products at one single price.

The pilot will also include trials of £1.50, £3 and £4 price points, after it started selling products at £2 and £5 in 2017.

The company said this means it will sell products such as Aussie Shampoo for £3, Elvive Nutrigloss for £2 and four-pack tins of John West tuna for £3.

Poundland said it is keen for customer feedback on the pilot, but around three- quarters of products in its pilot stores will remain at the core price of £1.

The first stores taking part in the pilot have already launched the new price ranges, beginning with the branch in Park Street, Walsall.

Poundland managing director Barry Williams said: "We promise customers amazing value and we are committed to fulfilling that promise on the widest range of items.

"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.

"Our customers are among the savviest in the country. We know that and it's why we're moving at the pace they dictate to become the simple price retailer they want us to be."