Frozen food and baked goods bolster sales at Poundland
Value chain Poundland saw sales increase by more than 5 per cent in the first three months of the year, its owner Pepco Group said.
There had been strong demand for the chain’s newer chilled and frozen ranges, as consumers opted for frozen over fresh meals to save money and cut food waste.
It follows new figures from research group Kantar which showed frozen food sales increased in British supermarkets in recent months, including meat and prepared foods like pizza and chips.
People were also opting for cheaper hot meals, with sausages rolls and pasties the “standout” products at the new Poundland Local store in London’s East Dulwich, the group said.
Poundland, which once sold the majority of items for £1 but has since broadened its price ranges, has more than 800 stores in the UK and 60 in Ireland.
A number of stores have been refitted to add more frozen food options including desserts, vegetables and ready meals.
It has also introduced clothing and homeware ranges into some larger shops, including at its biggest store opening in Glasgow.
Trevor Masters, chief executive of Pepco, said : “While the consumer environment remains challenging due to inflationary pressures, our strategy of price leadership gives us continued conviction in our ability to win customers and market share, which we have grown in our key markets over the last quarter.”
Pepco, which also owns value chain Dealz in Europe, saw its revenues jump by nearly a 10th to 1.2 billion euros (£1.1 billion) in its second quarter of the financial year.
The group said it had observed signs of changing consumer behaviour amidst a challenging economic environment, with high inflation across central Europe stretching household incomes.