In the dog-eat-dog world of low-priced goods, a battle has broken out in the capital of the Isle of Wight, Newport.
Poundland – the shops famous for selling things for, errr, a pound – has broken with their well-known convention, dropping its prices to 97p, in a price-battle with another newly-opened Newport shop which undercut them by a penny, selling for 99p.
Poundland tells OnTheWight that the Island shop is only one of a few across the UK that’s benefited from the reduction.
“Like all retailers we test competitor response options all the time and this is just one of a number of tactical options,” says Jim McCarthy, CEO at Poundland.
The repercussions
It set us thinking in a jovial way … It’s not known what the repercussions for the Poundland chain might be:-
- Will they rename the chain? 97p-land – not quite the same ring, but bet the domain name is free.
- Where as previously life has been really simple and the only change they’ve needed to carry have been pound coins, life will have to become much more complex, with them needing splash the copper with all of that 3ps change.
Any others we’ve missed? (Sure there’s loads)
Image: pittaya under a CC BY 2.0 license
Source IW Radio
