Jun 29, 2022

Poundland boosts £1 products in battle for shoppers

Tesco, the UK's largest supermarket, has said it is seeing early signs that shoppers are changing their habits due to high inflation - the rate at which prices rise - such as buying less food and visiting more frequently. Prices overall are continuing to rise at their fastest rate for 40 years, with UK inflation at 9.1% - the highest level since March 1982.Poundland boss told the BBC there is now a "Definite dynamic" of shoppers migrating away from major supermarkets to the discounters. Mr Williams says people are shopping around and controlling their spending as much as they can. Research firm NielsenIQ in its latest shopping survey found that one in four households were monitoring the overall cost of their shopping basket, including seeking out their favourite brands at value retailers like Poundland and Home Bargains. Mr Williams says with inflation soaring to its highest level in years, Poundland's one pound price point is being expanded to make it easier for customers to manage their budgets.

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