Poundland cuts prices on family favourites

Last week’s inflation data showed a fall to 7.9 per cent from 8.7 per cent.

Poundland, which has its headquarters in Walsall, today made a significant move to reduce the price of many products back to a £1 price point.

The move, dubbed ‘Operation Sell for Less’ will hit its 800-plus UK stores this morning as Poundland passes on the benefit of lower costs to customers.

Many items are now at over a third less than recommended retail prices.

Examples of items falling from £1.25 to £1.00 include Dettol surface wipes, Harpic cleaning gels, Johnsons cotton buds, Nivea shower creams and Lynx deodorant.

Some products will be reduced even more aggressively. Six-pack Seabrooks, Cheetos and Smiths crisps will come down from £1.50 to £1 and one litre bottles of Coca-Cola will be reduced from £1.65 to £1.

Poundland has also managed to reduce the price of many popular big sellers below £1. Pot Noodles are being reduced from £1.00 to 85p, Disney baby wipes from £1 to 75p and various Bodyform lines from £1 to 85p.

The move comes as Poundland releases research that despite falling inflation, customers are still highly concerned about making ends meet.

The research, carried out last week, shows that while energy bills have started to fall, concern about the cost-of-living is still high.

Compared to June, a sample of all Brits shows there’s 26 per cent more concern about tax and national insurance rises with concern from two-thirds of the public (67 per cent).

However Poundland shoppers are even more concerned with almost three-quarters (74 per cent) saying they are worried about those rises.

With mortgage hikes on the horizon for many, the same survey shows that Poundland shoppers are more cautious about their financial outlook over the next 12 months. Over half (57 per cent) reveal they have to plan their budgets carefully or can only just afford what they need.

Tim Bettley, Poundland’s trading director said: “We’ve worked hard since the beginning of the cost-of-living crisis to maintain our promise of amazing value to customers – and our consistent, steady growth shows they’ve noticed.

“But we also know the pressures are still real.

“Energy prices may be falling, but mortgage costs are on the rise so our job, now inflation is beginning to ease, is to do everything we can to pass on lower prices as soon as we can.

“We know that discounters like us passing on cost savings quickly, can help lower prices right across the market and drive inflation down faster.

“We’re committed to that mission of delivering amazing value – and it we know how much that matters to our customers.”

Poundland recently announced it planned to accelerate its grocery rollout which includes chilled’, frozen’, fresh fruit and veg as well as beers, wines and spirits to more stores.

It is also continuing to revamp stores so they can accommodate wider ranges as Poundland offers more of the items customers buy week-in, week-out.

Over the coming weeks Poundland will open or relocate nine new stores including Stafford on September 16.

Up to six other stores are also planned to open before the end of September, subject to legal agreements.

Poundland has a network of more than 850 stores in the UK and Ireland and employs around 18,000.