UK single price retailer Poundland has rejected claims that a new in-store pricing strategy has been influenced by the recent Brexit, The Independent has reported.
Late last week, TCC Global’s Bryan Roberts tweeted a picture that highlighted a new price approach at the retailer, which famously sells the majority of its in-store items for £1.
— Bryan Roberts (@BryanRoberts72) October 20, 2016
This was followed up with an image by Grocery Insight’s Steve Dresser, which indicated likewise.
This stuff? pic.twitter.com/LNY06lk1Ta
— Steve Dresser (@dresserman) October 20, 2016
However, Poundland issued a response to The Independent, which said that the pricing changes were part of “an existing project and has not been influenced by Brexit.
“The products Poundland is selling for more than a £1 will be from the existing product range. The rationale was to bring customers more value products than is possible at the £1 price point.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.