National retailer Poundworld is launching its online pound store, www.poundshop.com, today (11 February 2014) at 2pm.
Poundworld has beaten its competitors to become the first to take its operation online and will sell thousands of lines including branded goods such as Haribo, Colgate and Johnson’s.
The online store has been created in partnership with entrepreneur Steve Smith and plans to help bargain hunters across the UK net a bargain – without leaving the comfort of their own home.
Delivery from the website will be UK wide charged at a flat fee of £3.65 with a minimum basket spend of £10.
Distribution will be based at a warehouse in Gateshead.
Poundworld’s trading director, Chris Edwards (junior), said: “We’re thrilled to be launching the UK’s biggest online pound store.
“With too many bargains to carry home in store, poundshop.com is the simple and convenient service that will deliver incredible value goods direct to the customer’s door. It’s ideal for shoppers that want to buy from us but we don’t yet have a store in their town.
“We’re confident that there’s no other UK website that provides the huge range of bargains that we have on our site – all at the price of £1. We’re anticipating a great response from customers.”
Smith said: “I am proud to be working in partnership with Poundworld to finally bring poundshop.com online.
“Our aim is to offer shoppers a unique service and great value at the click of a mouse.”
Poundworld currently has over 200 stores across the UK.
Commenting on the move, David Lowrence, retail client engagement manager at Fujitsu UK & Ireland, said:
“Poundworld’s online launch highlights how the high street has transformed into a channel, where digital and mobile platforms lead the way, with consumers now going online rather than heading to their local high street, due to the growing number of mobile devices and online channels now available.
“Poundworld knows it’s customers best. If they believe that a 20 item basket is achievable, then this is a good move. However the retailer should bare in mind that running a transactional web (e-commerce ) may not be as cost beneficial as expected, as many outwardly successful retailers are discovering.
“With Poundworld only allowing a minimum order of £10, and charging a £3.65 delivery charge, it could be said that this retailer is cutting across its brand values. These factors will be taking products out of the £1 price zone, which may deter consumers to shop online, who could easily just pay £1 for the items in the physical stores. Some of Poundworld’s normal customer base also may not be as tech savvy as other consumers, and because of this shopping online will not be appealing to some customers.
“This can be a challenge for many bargain businesses today. Although Poundworld is considering starting a click and collect service, clicks have not quite replaced bricks.
“Fujitsu’s recent Pan European Retail Survey revealed 65% of retailers believe the importance of stores is increasing significantly within Europe. Because of this, it is important for bargain stores, such as Poundworld, to ensure they do not lose focus on their physical stores, to ensure customers can choose the shopping experience most suited to them.”