Sunday, 18 May 2014

Poundland's Steve Smith revisits his roots

I worked for Poundland in the days of Steve Smith and his enthusiasm was inspirational.  He had a passion for his business and was always looking for new ways to push things forward.  Without him at the helm, how has Poundland remained so successful for so long?

It is far more than just price.  Low prices without structure, innovation and an innate sense of what your customer wants just wouldn't have worked for that long.

Poundland have had to move with the times and realise that what they were selling for £1 over 20 years ago will have been eroded by inflation and may have gone out of fashion.  In my days there we sold loads if "large plastics" which consisted of washing baskets, buckets an mops but so many if then broke in transit that their export was stopped.

They have done deals with major suppliers to make their products at a size to match the price point rather than the price fitting the product.  This level of innovation has helped the company stay ahead of the competition and has forced suppliers to recognise Poundland as a serious player in the retail world.

I'm sure that there's another 20 years plus in Poundland and that whatever Steve Smith turns his hand to will be driven forward by his energy.
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