Poundland is making the move from a “single price retailer” to a “simple price retailer”, by slashing the prices of some products to 50p or 75p. For example, 500g Napolina Passata and 75g Princes Sardine & Tomato Paste will both be priced at 50p, and 100ml Colgate Toothpaste at 75p.

Poundland has previously offered products at 50p in certain stores as “Manager’s Specials” but the pilot is the first time it has offered permanent and dedicated ranges at lower price points.

However, it’s not all price reductions as the price of selected premium products will rise to £1.50, £3 or £4. These will include Aussie shampoo for £3 and four-pack tins of John West tuna for £3.

However, three-quarters of the items for sale in Poundland’s 300 stores will remain at £1.

Barry Williams, Poundland managing director, said: “We promise customers amazing value and we are committed to fulfilling that promise on the widest range of items. While three-quarters of the products we offer will still be £1, it’s important we look to broaden our ranges elsewhere, whether above or below £1.

“Our customers are among the savviest in the country. We know that and it’s why we’re moving at the pace they dictate to become the simple price retailer they want us to be.”