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Poundland drop price by 3p

Discount retailer Poundland has announced it will drop its £1 price point by 3p.

The move was first announced by CEO Jim McCarthy in Retail Week, and will trialled initially across three stores.

Jim McCarthy, CEO at Poundland said: “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. This price point is currently being applied in just 4 stores.”

Poundland operate around 450 stores in the UK and is one of Europe’s biggest single price deep discounters. Last year the firm reported a turnover of £780m as consumers remain hungry for cheap high street products in the midst of economic downturn.

This was posted in Bdaily's Members' News section by Tom Keighley .