Poundland can no longer state or suggest that every item it sells costs £1, following an Advertising Standards Authority (ASA) ruling.
The budget retailer, which currently has more than 540 stores across the UK, sells some products for more than £1 as part of “conditional spend” promotions which are highlighted at till points and segregated marked bays.
The ASA concluded that Poundland’s advertising, which included the phrase ’Everything for £1 was the idea of our founders in 1990 and we’ve grown to become the largest single price value retailer in the UK’, was misleading.
“It suggested that every item sold by Poundland cost £1, regardless of whether or not they were sold via a concession arrangement or as promotional goods that were not otherwise available for purchase,” the ASA said.
Poundland’s marketing material has now been changed to read: ‘Everything for £1 was the idea of our founders in 1990 and we’ve grown to become the largest single price value retailer in the UK, with thousands of great products all at £1 across over 500 stores and sometimes we offer special promotions at other prices.’
Poundland is currently awaiting the outcome of a Competition and Markets Authority review of its plans to purchase the 99p Stores chain of 251 stores.