Poundland has cut its to 97p in an attempt to push up customer numbers.
Poundland, the shop where every item inside costs £1, has cut the prices of its products to 97p to try to undercut the competition of similar high street shops.
Prices have been ‘slashed’ by 3p in an attempt to draw in customers who may have been tempted to shop at nearby 99p shops.
It’s only happening in certain outlets where rival bargain shops are nearby.
Poundland sale
Jim McCarthy, chief executive of the chain, announced the new lower prices this week in an attempt to push up customer numbers.
He told Retail Week the price cut shows the brand is not a soft touch and likened the move to when supermarkets have competitors opening nearby and bring out a host of deals to try to fend off competition.
[SPOTLIGHT]Current deals from the chain include buy two get one free on multipacks of Walkers crisps and French fries, four Daim bars for £1 and a four pack of Terry’s Chocolate Orange for £1.
While there are always on-going offers nationwide, the current 97p deal is only available in certain stores, such as East Ham, Dudley and Chelmsley Wood.
“Poundland always aims to offer great quality products for amazing value to all its customers. Like all retailers we test competitor response options all the time and this is just one of a number of tactical options,” McCarthy said.
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