UK: Poundland to bring back £1 rule in 'brutally simple' message to shoppers
- DRC Discount Retail Consulting GmbH
- Aug 22
- 2 min read
Discount Variety Retail Chain Poundland has been going through some changes recently. Amidst its sale to the Gordon Brothers in June, the firm is in the middle of a massive shakeup. As it closes multiple stores across the country, the high street firm is looking to bring back its famed pound one-price model that will see it send a "brutally simple" message to customers. The shakeup has seen the discounter slash the price of almost half its products, returning prices to £1, £2 and £3, with around 65% said to back to the low £1 price-point.
Also included are new 'dump bins' that will carry around 20 products at the low £1 cost for a minimum of 13 weeks. Multibuy promotional offers have also been stripped back as part of the move, with the two for £3 (instead of £2 each) being the only deal to remain to help boost volumes.
Poundland's MD Barry Williams told the Grocer, that as well as giving shoppers more value, the strategy meant "better availability through focusing on a much more efficient range."
In a bid to win back customers, the firm's boss also told the publication that the move is going to be "brutally simple and that is the message that I'm giving to all parts of the business."
The new back to basics strategy, which was successfully trialled at the Poundland store in Park Street Walsall in March, is reported to have since been rolled out to 22 other locations including Liverpool, Manchester Arndale, Hanley in Stoke, Wandsworth and Brixton.
It will also be "gradually rolled out" to the rest of Poundland's stores, with the retailer suggesting that customers are already reacting "positively" to the recovery phase.
Poundland's new pricing strategy comes after the retailer announced it will be closing a total of 49 stores this year, as it looks to reduce its UK portfolio from 800 to around 650-700 stores.
The plan to "refocus and simplify" the brand came after it was sold in June from its original owners the Pepco Group to the Gordon Brothers, the formers owners of Laura Ashley.
As part of the shakeup, its Inverclyde branch based in Port Glasgow closed its doors on August 10, while its Perth based branch permanently closed a week later on August 17.
The firm is still closing the doors to certain branches over the next few weeks, with its Rivergate Shopping Centre branch, based in Irvine, earmarked for closure on September 6.
As the discounter looks to get back on its feet, it also announced that it would be axing two popular services as it looks to bring the focus back onto in store shopping.
Earlier this month, we reported that, starting from September 16, Poundland's website will no longer be available for online shopping, only for browsing the range of products that can be purchased in store. Its loyalty app, Poundland Perks, will also be retiring at the same time, although any vouchers that have so far been earned will be valid for redemption in any Poundland store until January 15, 2026.
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