Poundland is rolling out its ‘simple price’ proposition across its 840-strong store estate following a successful trial.
The discount retailer is introducing its multi-price proposition across health and beauty, household and grocery ranges at all of its stores following a successful pilot across 24 Midlands branches.
The retailer, which launched the pilot in August, will roll out the widened price points across all its branches in a bid to further drive festive sales.
Poundland, which initially introduced 50p, £2 and £5 price points across its estate in 2017, has increased its price range to include 75p, £1.50, £3 and £4 in its latest ‘simple’ pricing initiative.
Three-quarters of products across the value retailer’s stores are still expected to be priced at £1, with extended price points enabling the business to expand its reach into existing product categories.
The move comes as Poundland parent company Pepco ramps up for aggressive bricks-and-mortar expansion across Europe.
The group reported an 18% rise in EBITDA growth last month, alongside the completion of a long-term €475m (£422.1m) refinancing, which Pepco chief executive Andy Bond said gives the business “complete financial independence” from its parent company Steinhoff.
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