Poundland boosted sales by 21% last year, according to results released today. Poundland opened 62 new stores over the year, two fewer than in 2011. In April, it opened its 400th store, in Haringey, London.
Chief executive Jim McCarthy said, “Our strong sales and volume increases demonstrate that customers recognize the exceptional value for money that Poundland offers” he went on to add “Our fixed price makes it easy for families to budget as they can see how much they’ve spent before they get to the checkout. We are excited about the year ahead as we continue our rapid expansion.”
So what does the growth tell us about the frugal spender? As our personal budgets are squeezed more of us are seeking better value for money. With a mix of named brands available , it looks as though shopping in discounter stores is losing its stigma and the social economic barrier may be fading. Its possible to also conceive that as discounting sites and voucher schemes become the norm and are seen as rewards to consumers and shoppers rather than just promotional tactics, that shopping in discounted stores is becoming just part of our multi-retailer shop.
The more stores that discounters open the more accessible they become this makes the addition of the discount shop a real player in the shoppers basket share.