July 28th, 2023, Lesley Simeon
British variety store chain Poundland has reduced the prices of some of its big brand items including Harpic cleaning gels, Smiths crisps, Coca-Cola and Lynx deodorant. The move, dubbed ‘Operation Sell for Less’, will bring a number of items to a £1 price point and some to less than that.
We look at YouGov data to see what kind of actions Poundland’s current customers could take to tackle household budget squeezes.
According to YouGov Profiles - which covers demographic, psychographic, attitudinal and behavioural consumer metrics - Poundland’s customers are more likely than the general British population to shop around for value products (49% vs. 43%).
More than half (54%) of Poundland’s shoppers are likely to spend less on non-essential food and other goods and a quarter of them (25%) will spend less on essential groceries if their household budget is squeezed.
Profiles data shows that more than half (52%) of Poundland’s customers think their household’s financial situation will get worse in the coming 12 months. By comparison, 47% of the general population expect a similar change in their household financial situation.
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data for Great Britain is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.
Photo by Fikri Rasyid on Unsplash