13,000 new Poundland jobs as it eyes online expansion
The Pepco Group, which owns Poundland, has plans to create 13,000 new jobs across Europe over the next three years.
Boss Andy Bond told Reuters that Pepco is betting on shoppers flocking to bargain stores amid pandemic-induced inflation.
Unlike most retailers, the discount chain group has not been kept afloat by online sales. Due to the average basket size costing less than £10 – an online store is not considered worth it for discount chains.
“Our consumer dynamic, our geographical spread and our business model make us most defendable against online and most unlikely to go online,” Bond said.
But Poundland is currently undergoing a small online trial in the UK to get a better understanding of 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 added.
He 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.
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