UK: Poundland unveils major transformation programme

Updated: Sep 21, 2020

Discount Non-Food Retail Chain Poundland (owned by South African listed Steinhoff Holding) announced the biggest transformation programme in its history as it helps lead the recovery of Britain’s town centres.

At a time when many high street names are battening down the hatches, the country’s most popular discount retailer has unveiled a package of measures that will bring customers even more choice and outstanding value for money.

The transformation plans, internally dubbed Project Diamond, include changes to stores, pricing, and the overall breadth of the offer:

Investing in stores & systems

  • Refreshing and refurbishing stores, from the smallest convenience stores to larger destination stores.

  • Pressing ahead with new stores and re-sites to bring Poundland to new towns such as Ingoldmells in Lincolnshire and expand in existing towns such as Stockton-on-Tees, County Durham. Three Dealz stores opened in the Republic of Ireland in Rathfarnham, Buncrana and Clonakilty.

  • Investing in new back office technology, through its Oracle/ERP programme and making wi-fi available in every store.

Completing move from single to simple price retailer

  • Completing the simple pricing roll-out across the whole store by the autumn, meaning every category will have extended ranges at prices above and below £1.

Broadening the Offer

  • Accelerating the rollout of chilled and frozen food to 60 stores and extending it to more later in the year.

  • Building on the success of Poundland’s PEP&CO fashion brand by opening six additional compact ‘shop-in-shops’ bringing a confident clothing offer to more than 310 locations.

  • Launching a brand new ‘shop-in-shop’ concept later in the summer that will step-change its general merchandise offer.

  • Piloting a home delivery service early next year from a new online fulfilment centre in Cannock.

Project Diamond is set to bring the widest offer to Poundland and Dealz stores in the UK & Ireland through a revamp of stores and the tailoring of the offer for three types of store:

  1. Destination stores offering the fullest range of products including food, homeware, health and beauty and clothing.