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Recession brings Pound Stores to most affluent areas

PUBLISHED: 16:07 04 September 2009 | UPDATED: 16:26 07 September 2010

Pound stores have increased in number to 250 in the South East over the last two years according to new research by the Local Data Company which has been backed by the British Property Federation (BPF). The national increase is 60 per cent, as can be seen

Pound stores have increased in number to 250 in the South East over the last two years according to new research by the Local Data Company which has been backed by the British Property Federation (BPF). The national increase is 60 per cent, as can be seen in Greater London (357 outlets), and the North West (135).

An estimated one in five shops are empty in the South East following many high street brands such as Woolworths and Zavvi going under, and many other small firms folding under the recession.

Customer bases have also drastically changed. Poundland, for example, has seen a 22 per cent increase in the numbers of shoppers from the richer AB group. Traditionally, their target market has driven by females in the C2, D and E socio-economic groups. The change has occurred because discount retailers have moved into more affluent areas.

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