Poundland owner to create 13,000 jobs as it eyes online retail expansion
The Pepco Group, which owns Poundland, has tabled plans to create 13,000 new jobs across Europe over the next three years.
The discount group’s boss Andy Bond told Reuters that it is betting on shoppers flocking to less expensive stores amid pandemic-induced inflation.
Unlike most retailers over the pandemic, the discount chain group has not been buoyed by online sales.
When an average basket size is less than £10, an online shopping order seems obsolete.
“Our consumer dynamic, our geographical spread and our business model make us most defendable against online and most unlikely to go online,” Bond said.
However, Poundland is currently undergoing a small online trial in the UK to better understand customer demand.
“Personally, I’ve been very sceptical. However, it is such a macro trend, we’ve got to learn about it, because I have no intention of looking like the idiot who called the world flat when it was actually round,” Bond, the former boss of Asda, added.
The discount boss explained that if customers were willing to spend a basket of around £60, a website for discounted products could be viable.
The group is looking for a partner in eastern Europe for another online trial.