Following news last week that discount supermarket chain Aldi planned to open a store a week for the foreseeable future, fixed price retailer Poundland has followed suit with an aggressive expansion plan.
The chain has announced it will open 100 stores in the next three years, increasing its portfolio by almost 50% to nearly 300 stores, with another 300 to follow. Plus, it has increased its floorspace requirements, focusing on sites with 5,000sq ft plus.

Like Aldi, the company sees the credit crunch and likelihood of further economic downturn, as working to its advantage as cash-strapped shoppers will increasingly look for ways to cut household spending.

Poundland has already opened six stores since April 1 and is either in negations or has completed on another 15-20 stores to open in the second quarter. The next store to open will be Newcastle-upon-Tyne on July 17.