Poundland to open 25 UK stores this year as low-price giant exploits Brits’ hunger for cheaper products

Poundland said this morning it plans to open and relocate 25 stores across the country in 2022.

Ten new branches will be opened by the end of next month and 15 more before the year ends.

The low-price retailer said it will primarily focus on high streets, retail parks, and neighbourhoods, with stores expected to employ hundreds of people.

The planned timings of the store openings are subject to landlord agreements, planning consents, and building works. Some of the locations include Sutton Coldfield, Milton Keynes, and Aberdeen as Poundland also cuts prices of thousands of its goods across its over 800 stores to focus on its £1 price image.

Commercial director Tim Bettley, said: “We’re acutely aware how important value-for-money is right now for our customers.”

The move comes as the UK faces record inflation at 40-year highs as a severe cost of living crisis has gripped the country and sent prices of essentials surging.

“The pressure on customers from inflation is real,” said COO Austin Cooke. “While we’re serving more shoppers, that’s partly offset by customers being more intentional about what they’re putting in the baskets. That’s why we’re determined to bring more value to more places, in store and through our new online business.”