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Supermarket Founders Dial Up the Discounts

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Supermarket Founders Dial Up the Discounts

This week Poundworld founder Chris Edwards announced he is launching a new discount chain and has ambitious plans to open 100 stores within a year.
 
The news comes in the same week of the launch of the discount supermarket ‘Jacks’ by the founder of Tesco.
 
The move might be a wise one, as discount retailers such as TK Maxx have posted a 6% increase in comparable store sales and are planning to open 238 more stores this year.
 
In the past 5 years, Aldi and Lidl have almost doubled their combined market share to 13.1%. But their plans for 250 to 300 new stores in the UK in the medium term highlight that there is still much room for growth in the discount sector.
 
Is Jacks a sign of what’s to come?
  • The new store stocks only 2,600 products compared to a typical Tesco has more than 25,000
  • It features a Wigig (“when it’s gone, it’s gone”) aisle of overstock, end-of-line products and last-minute deals 
  • The design has a distinctly ‘British’ look, with a  chalkboard-font white across, a bright red background and union jacks replicated down the isle
  • Produce is own-brand with 80% locally sourced produce 
  • It will also have a Fresh Five fruit and veg offer that echoes Aldi’s Super Six
  • Jack’s staff will be give the freedom to wear their own clothes along with a branded apron and badge

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