Poundland returns to £1 roots after complaints that 'nothing costs a quid anymore'

manchestereveningnews.co.uk:

Poundland has made a big change to its prices following complaints that 'nothing in Poundland actually costs £1 anymore. In a bid to get sales back on track, the retailer has gone back to its roots and increased the number of products it's selling for £1 or less.

The retailer launched in 1990 and quickly became a high street hit with shoppers, selling everything for a quid. But facing competition, its pricing structure changed and it began selling products for anything from 50p to £10, with the Advertising Standards Authority eventually taking away its right to use its slogan 'Yes, Everything's £1'.

Now the company has increased the number of products costing £1 or less from around 1,500 to almost 2,400 - nearly half of its total core range of 5,000 products.

The retailer has also filed a trademark application for ‘Home of the £1’ and is using the slogan in a new campaign. According to the Bank of England inflation calculator, the value of a pound in 1990 when Poundland opened its first store, would be the equivalent of £2.42 today and the company is hoping its campaign will win back customers following a dip in sales of 3.6% in the year to September 30.