Poundland Officially Ditches £1 Price Limit Today – And It's Introducing New £10 Products Soon
Poundland has announced it will be ditching its £1 price point, and will now stock items that cost anything from 50p to £5 nationwide, as well as some special £10 items.
The budget high street retailer is changing up the game from today, and shoppers in their 800-plus stores will be able to snap up a bigger range of items at a cost of 50p, 75p, £1, £1.50, £2, £3, £4 or £5.
The move follows a trial in 24 West Midlands stores, and the gradual introduction of a few special products costing £2 and £5 over the last two years.
The new system will mean that you can't bank on your favourite products costing a quid any more, but the retailer is hoping the varied pricing will allow them to broaden their ranges, and offer more choice.
Plus, it still promises to keep its pricing competitive, and to offer discounts you're unlikely to see elsewhere.
Products like Comfort Blue Skies Fabric Conditioner will cost £4, for instance, while 24 packets of Walkers cost £3, and you'll be able to grab a packet of Matchmakers for under a pound, at 75p.
And for some products, the pricing will creep up further still. The retailer is also unveiling a range of £10 products this month, which it is tailoring at bulk buyers.
The pricier products include large boxes of Ariel, Fairy and Bold washing powder, among other super-sized household items.
And Barry Williams, Poundland managing director, confirmed he wouldn't hesitate to move their new 50p-£5 norm up to make it more expensive should the right products come along.
"If something that is amazing value comes along and we think it is right for our proposition and right for our customers and it's £7, then we'll have a go at it".
He added: "We've introduced simple pricing in time for Christmas so we can offer customers even more choice and even better value for money.
"Our shoppers love the amazing value we provide and now we can begin bringing that value on wider ranges that they now can find in stores for the first time.
"Our team of talented buyers has moved heaven and earth to bring these ranges to store in time for Christmas and I'd like to thank them for all their hard work."
It's no wonder Poundland wants to vary its pricing, seeing as its rival Poundworld collapsed in June.
In a bid to keep its place on the high street, the retailer isn't just changing its pricing.
It also recently introduced clothing in around 300 of its stores, too, and brought in fresh and frozen ranges in five stores across Yorkshire and Derbyshire, with a view to rolling out in further stores nationwide.
Poundland reported sales up 1.7 per cent for the nine months to June 30, but their overall sales fell 5 per cent to £1.2billion.
Featured Image Credit: PA