Poundland is reintroducing its iconic £1 pricing strategy across 850 UK stores, responding to customer demands for simpler value. The move is part of a major overhaul that will see 68 branches close their doors.
The budget retailer will implement £1, £2 and £3 grocery pricing in stages from now until September. By the end of the rollout, 60% of grocery products will carry the £1 price tag.
Managing director Barry Williams said: “Customers have told us loud and clear during these trials that they will back a simpler, more focused Poundland that keeps its promise of amazing value. We’ve heard them, and the clear success of our pilot is why I’m confident that a Poundland that’s focused on the simple value our customers expect can have a bright future.”
The chain abandoned its single-price model half a decade ago, shifting to a “simple price” approach. Market analysts GlobalData estimate Poundland’s market share fell by 2.3 percentage points between 2019 and 2024.
Parent company Pepco placed the business on the market after the Government’s National Insurance and business rates hike in April, which it said would add pressure to Poundland’s cost base. A former executive claimed the brand had “lost its way” by becoming too complicated.
Thirty-seven stores are closing this month as part of the restructuring plan launched after Poundland was sold to investment firm Gordon Brothers for £1. A total of 68 closures are planned, with three already shut in Chiswick, Swiss Cottage and Southampton. The new owners have proposed axing frozen foods, reducing chilled foods, closing distribution centres, ending online sales and expanding womenswear and seasonal ranges.
