{"id":39373,"date":"2022-06-28T23:21:09","date_gmt":"2022-06-28T23:21:09","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/06\/28\/poundland-boosts-1-products-in-battle-for-shoppers\/"},"modified":"2022-06-28T23:21:09","modified_gmt":"2022-06-28T23:21:09","slug":"poundland-boosts-1-products-in-battle-for-shoppers","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/06\/28\/poundland-boosts-1-products-in-battle-for-shoppers\/","title":{"rendered":"Poundland boosts \u00a31 products in battle for shoppers"},"content":{"rendered":"
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Poundland is increasing the number of products it sells for a pound as retailers fight for customers. <\/b><\/p>\n<\/div>\n

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About half of its products cost a pound, but the company says 60% of what it sells will be a pound or less by the end of this week. <\/p>\n<\/div>\n

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The discount chain says it is seeing a rise in customer numbers as people look for savings amid rising living costs.<\/p>\n<\/div>\n

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Recent surveys have shown that customers are spending less on their grocery store due to rising prices.<\/p>\n<\/div>\n

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Supermarkets Asda and Tesco have said customers are cutting back on their purchases.<\/p>\n<\/div>\n

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Asda told the BBC some shoppers are asking cashiers to stop scanning items when checkout totals reach \u00a330 to cut costs. Many customers are also moving to budget ranges.<\/p>\n<\/div>\n

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Meanwhile, Tesco, the UK’s largest supermarket, has seen early signs that high inflation – the rate at which prices are rising – is causing shoppers to change their habits. B. Buying less groceries and visiting more often.<\/p>\n<\/div>\n

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The big grocers have also invested heavily to keep the prices of everyday necessities as low as possible and the market is highly competitive. <\/p>\n<\/div>\n

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Kantar Worldpanel provides a monthly update on food spending. In the latest figures, Tesco, Aldi and Lidl were the only supermarket chains to increase their market share. Fraser McKevitt, Head of Retail and Consumer Insight, says there hasn’t been any sign of a significant shift to bargain chains so far. <\/p>\n<\/div>\n

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Overall prices continue to rise at the highest rate in 40 years, with UK inflation at 9.1% – the highest since March 1982.<\/p>\n<\/div>\n

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  • Asda says shoppers are asking cashiers to stop at \u00a330<\/li>\n
  • UK inflation hits 40-year high as food prices soar<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    Poundland boss told the BBC there is now a “clear dynamic” of shoppers migrating from large supermarkets to discounters. <\/p>\n<\/div>\n

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    \u201cI think you’re seeing a shift, a flight in value if you will, from the traditional grocers, the big chain stores, to the discount channel, which is where we operate. Most discounters are doing better at the moment,\u201d says Barry Williams, managing director of Poundland. <\/p>\n<\/div>\n

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    He says customer numbers are up 5-10% compared to the same period last year. <\/p>\n<\/div>\n

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    Part of this increase will be due to more people returning to the high streets and malls post Covid.<\/p>\n<\/div>\n

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    But Mr Williams says people are shopping and controlling their spending as much as possible.<\/p>\n<\/div>\n

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    \u201cWhat we’re definitely seeing is customers prioritizing key spend areas. It’s more about fast-moving consumer goods, it’s more about groceries… maybe a few fewer items in each basket.\u201d <\/p>\n<\/div>\n

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    Sales of frozen foods are up, a category he says tends to do well during tough times because it helps shoppers manage waste. <\/p>\n<\/div>\n

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    But in the last five to ten years, these cheap chains, which have constantly improved their offerings, have nibbled at supermarket sales. <\/p>\n<\/div>\n

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    Research firm NielsenIQ found in its latest shopping survey that one in four households monitors the total cost of their shopping basket, including searching for their favorite brands at budget retailers like Poundland and Home Bargains. <\/p>\n<\/div>\n

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    Poundland has over 850 stores across the UK. It was established in 1990, primarily as a discount retailer with pound-for-one products, including clearance lines. Over the years, the chain has expanded its range, with around half of its stores now stocking clothing. And more recently, it has launched chilled and frozen foods. <\/p>\n<\/div>\n

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    Mr Williams says as inflation has risen to its highest level in years, Poundland’s one-pound price point will be widened to make it easier for customers to manage their budgets. <\/p>\n<\/div>\n

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    \u201cCustomers are very careful about how much they spend. This is a really easy way for them to control those expenses as well.\u201d <\/p>\n<\/div>\n

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    Two thirds of the products will be branded items. <\/p>\n<\/div>\n

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    He dismissed the suggestion that the one-pound price point would be reached through “shrinkflation,” where companies reduce the content of products but keep the price the same.<\/p>\n<\/div>\n

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    “It’s not a shrinkage. But that’s something that happened in the market a few years ago. It’s certainly not what’s happening right now.” <\/p>\n<\/div>\n

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    The Poundland boss doesn’t go into detail about how high he thinks inflation will be, saying only that “it’s not over yet”. <\/p>\n<\/div>\n

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    He says the big danger is that inflation will be ‘baked in’ and may not come down again, and claims discounters, from Aldi and Lidl to B&M and Home Bargain, are now playing an increasingly important role in helping a “price anchor” for the market. <\/p>\n<\/div>\n

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    “Without a healthy discount sector, which we are fortunate to have in this market, there is a risk that prices will remain at these inflated levels.” <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Poundland is increasing the number of products it sells for a pound as retailers fight for customers. About half of its products cost a pound, but the company says 60% of what it sells will be a pound or less by the end of this week. The discount chain says it is seeing a rise […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-39373","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nPoundland boosts \u00a31 products in battle for shoppers - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/06\/28\/poundland-boosts-1-products-in-battle-for-shoppers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Poundland boosts \u00a31 products in battle for shoppers\" \/>\n<meta property=\"og:description\" content=\"Poundland is increasing the number of products it sells for a pound as retailers fight for customers. 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