Poundland has launched its first ever summer sale

Helen Cahill
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How low can prices go? (Source: Getty)

Poundland has launched its first ever summer sale, cutting the price of thousands of products to just 50p.

The retailer said at the beginning of the year that it would introduce "added value" and is now following through with cheaper outdoor living, jewellery and gardening products. The sale will last until the end of August.

Read more: Poundland's 99p stores have gone into administration

Inflationary pressures have been squeezing retailers' margins, but the sector has still been slashing prices to clear stock.

In the week to 28 July, 74 per cent of non-food retailers were offering their products on sale, according to research by independent retail analyst Richard Hyman. In the same week last year, 74 per cent of retailers were on sale.

Retailers including John Lewis, Top Man, H&M and WH Smith were all trying to entice customers with cut-price products.

Many retailers, such as Marks & Spencer, have vowed to move away from clearance sales, pledging to offer customers good value for products all year round.

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