Poundland to accept American Express
Poundland is to accept American Express Cards in all of its 385 stores across the UK. The discount retailer said the move was a result of the rise in more affluent customers shopping regularly at its stores.
Poundland said that research by Pagma from spring 2011 revealed that 13% of middle and upper middle class consumers (ABs) in the UK shop in Poundland. The discount retailer also carried out its own research in December 2011 revealing that over half (52%) of consumers shopped regularly in discount stores. One in three of this group confirmed they would not have stepped foot in a discount store two years ago.
Jim McCarthy, CEO at Poundland explained: “As the economy has become more difficult we continue to see the ‘squeezed middle’ class shopping in our stores as they seek better value for their money. As soon as they realise they can buy their favourite brands and understand that we deliver amazing value, trust and confidence is built and they become loyal shoppers, as well as recommending us to family and friends.
“We expect to attract even more middle class shoppers by welcoming American Express. We’re excited about the new payment option as it shows we listen to all of our customers.”
Mark Roper, vice president merchant services UK for American Express said: “In the last few years we have significantly expanded the American Express network in the UK. The addition of Poundland means that our card members now have more places than ever to use their cards for their everyday needs. We’re looking forward to working with Poundland to attract more customers and help them grow their business.”
