Poundworld’s Poundshop.com launches on Tuesday at 2pm

Poundworld is hoping to steal a march on its rivals this week by launching what it claims is the UK’s biggest online pound store – Poundshop.com.

The site goes live on Tuesday (11 February) at 2pm, and customers will be able to choose from over 1,000 products – as long as they spend a minimum of £10. Delivery will be nationwide and cost a flat fee of £3.65.

Branded products for sale online will include Haribo, Colgate and Johnson’s.

The venture is a partnership with entrepreneur Steve Smith, who co-founded Poundworld’s rival Poundland in 1990. Smith sold his interest in the company in 2002 for £50m.

“I am proud to be working in partnership with Poundworld to finally bring Poundshop.com online,” said Smith. “Our aim is to offer shoppers a unique service and great value at the click of a mouse.”

Poundworld’s trading director, Chris Edwards Junior, added: “We’re thrilled to be launching the UK’s biggest online pound store.

“With too many bargains to carry home in store, Poundshop.com is the simple and convenient service that will deliver incredible value goods direct to the customer’s door. It’s ideal for shoppers that want to buy from us but we don’t yet have a store in their town.”

Picking will take place at the company’s main distribition centre in Gateshead, from where deliveries will also be made.

In January, Poundworld reported a 34% drop in pre-tax profits, with total sales up 42% to £294m. It is currently the focus of a BBC1 series ‘Pound Shop Wars’, charting its day-to-day rivalry with Poundland.

Last week e launch last week of Hereforapopund.com, which offers more than 1,000 products and charges a standard delivery fee of £4.50. Orders over £30 are free.