Iceland's Value £1 Range Sees 61% Sales Surge in January

• Iceland's £1 value range sales soared 61% in the first half of January.
• Demand for £1 meals surged 84% in the first week of January.
• 50 new products were added to Iceland's £1 range, now featuring over 700 items.

Iceland has announced a significant increase in sales of its £1 or less value range this January, as customers seek ways to mitigate the financial strain of the post-holiday season. The supermarket reported a 61% rise in sales for its value line in the first half of January. Notably, the demand for its £1 meals escalated by 84% in the first week of the month.

In response to consumer needs, Iceland expanded its value range earlier this month, adding 50 new own-brand and branded products. This expansion brings the total number of items in the essentials line to over 700. £1 ready meal options include pizzas, curries, lasagnes and more.

Richard Walker, the managing director of Iceland, emphasized the importance of affordable family meals, especially during times of financial pressure. He mentioned that the increase in sales is a testament to the positive reception of these budget-friendly options by customers.

Aoife Morgan at Retail Gazette reported that Iceland's initiative to increase its range of £1 products was a direct response to customer feedback about financial challenges. The company's commitment to affordability extends beyond just the expanded range. Initiatives like the 1p veg offer and ongoing support for free school meals are part of Iceland's broader efforts to assist families in shopping affordably.

Tom Church, Co-Founder of LatestDeals.co.uk, commented, "Iceland's remarkable increase in sales for its value range highlights a growing trend among consumers to seek out cost-effective options, especially during financially tight periods like January. This strategic move by Iceland not only meets customer demands but also reinforces the importance of affordable shopping choices in today's economy."