Poundworld is looking to attract more ‘posh customers’ into stores under new plans to expand into ‘affluent’ UK locations.
As the discount chain opened a new store in Harrogate this week, trading director Chris Edwards Jr said the move proved locals from the prestigious spa town were “not too posh for a bargain”.
Wealthy executives make up 18% of Harrogate’s population, while 65% of its locals are AB and C1 customers.
“If units become available, then we are certainly paying closer attention to more affluent areas Harrogate is just the start,” said Edwards.
“Although traditionally our customer would be in the C2, D and E category, over the past couple of years we’ve noticed a shift in attitudes towards our brand and it now seems that even the wealthiest shoppers cannot resist the allure of a great bargain.”
Poundworld plans to open a further 100 new stores by the end of 2013, bringing its total UK estate to 300 stores.
The discounter announced a 28% fall in pre-tax profits to £2.8m for the year ending 31 March 2012, blaming an investment in “new stores and distribution infrastructure”.