Savvy Irish shoppers are being thrown an economic lifeline as their favourite brands become available at bargain prices.
Poundland, Britain’s recession-busting budget retail chain, opens its first outlets in the Republic this month. And it couldn’t come at a better time for Ireland’s cash-strapped consumers according to Chief Executive Jim McCarthy.

Mr McCarthy, whose family comes from Co Cork, spoke excitedly of the venture.
“We plan to open six stores in the Republic before the end of March 2012,” he explained. “But it’s such a large market that our ultimate plan – which is quite ambitious – could see us open up to 50 stores eventually.”
Poundland will operate under the name Dealz in Ireland and, although the company has yet to divulge its intended price per item, Mr McCarthy is confident it will be as enticing for the Irish consumer and easy on their pockets as the £1 offer has been in Britain.
“The Irish consumer actually is under more pressure than the British consumer now,” he said. “But the Irish are very savvy consumers and they love value at the moment - some because they need to and some because they choose to shop wisely. So the country’s economic conditions, which I am sad about, are helpful to our launch because there is a flight to value in Ireland.
“Our ethos is to put the customer first and to provide amazing value every day, so that you have the certainty of the price, which helps you budget, and the longevity of the offer. We have been selling at £1 in Britain for 21 years, while other retailers tend to have high-low promotional prices.
“They reduce something for a week then it returns to its higher price – with us it’s always at a pound. Providing we demonstrate similarly amazing and in some cases extreme value the Irish public will hopefully vote with their purses and wallets and be very happy with the savings they are able to make.”
And with little concerns about any existing competition in the Irish budget retail market, they expect to take the lead position in the arena very early on.
“There are a couple of operators in Ireland of a similar ilk, who are good people, but the difference is they tend to operate small stores,” Mr McCarthy said.
“Ours will be much bigger and brighter, with a wider selection of categories; food and drink, health and beauty, household, stationary, entertainment and DIY.
“There’ll be over 3,000 products on show and over 1,000 brands that Irish consumers will know and have faith in – included in that of course, very importantly, will be a number of Irish brands.”
The first stage of Poundland’s European expansion will see 180 jobs created in its six initial stores. More than €2million in capital investment will be fed into Ireland’s struggling economy, providing additional support for Irish brands.
“We are talking to various Irish brands at the moment and our hope and anticipation is that they will be as enthusiastic about receiving us in Ireland as we are about coming,” Mr McCarthy said.
“The Irish consumer obviously is very mindful about sustaining employment, which is important, but also about creating new jobs to replace those that have been lost.
“So working with Irish suppliers is very sensible, from both a consumer perspective and an economic one, because the appeal of Irish brands is obviously profound.”
With only a couple of weeks remaining before the first store is due to be unveiled, Mr McCarthy is increasingly keen to see customer reaction in his family’s homeland.
“I find all opportunities exciting but I have to say this one is slightly more emotional because of my roots,” he admits. “I would say to anyone there come in and give us a try. You decide on whether its amazing value – we believe it is and we’re delighted to be able to bring the offer to the Republic. We hope our enthusiasm is embraced by the Irish consumer and we hope we can help them save money and shop savvy.”
He added: “The most frequently asked question in Poundland is how much is this? “They ask as they can’t believe the value; they are astonished that we can offer these products at this price. If I hear the Irish consumer asking ‘how much is this?’ this month that will be brilliant.”