Irish can't get enough of cheap Toblerones
Published 30/10/2011 | 05:00
IRISH shoppers can't get enough of cheap Toblerones, according to Poundland boss Jim McCarthy. Poundland, Europe's largest single price discount store, has entered the Irish market, opening shops under the Dealz banner.
After the first month of trading, big 170g Toblerones, costing €1.49, are the biggest selling item in Poundland's Dealz stores. Poundland owns 335 shops in the UK, where packs of 11 Kodak AA batteries are the highest selling item.
Since opening its first stores in Ireland a month ago, Poundland has revealed that its Irish shops are already outpunching their British counterparts, with the first two shops in Portlaoise and Blanchardstown recording 12,000 transactions -- marginally above the UK average.
More importantly, Irish consumers are spending far, far more, with the average spend "a double-digit percentage" above British shoppers. The average UK spend in a Poundland shop is between €4.60 and €5.15.
Milk is also proving a major hit, with the Dealz stores selling a two-litre carton of milk for just 99c. Other items in the 10 biggest selling products in Ireland include CDs, aluminium foil and Ballygarvey eggs. Maltesers and Haribo jellies are also big sellers.
"Our research shows that Irish consumers are similar to those in the UK but with a preference for Irish suppliers," Mr McCarthy told the Sunday Independent.
Poundland expects to open six Dealz stores in the coming months, with the next opening scheduled for Killarney in November. The chain, owned by Warburg Pincus, has 20 outlets in the North and plans to beat that in the Republic.
Sunday Indo Business