The discount retailer Poundland has announced that it will be increasing the number of products that are sold for £1 or less across its UK stores.

The total number of items this will apply to will jump from 1,000 to 1,500.

From today (Friday, November 1) it will reduce essentials such as milk, bread, sugar and eggs to a locked price of £1.

Additionally, it is introducing new £1 fresh produce stands across more than 520 of its UK stores, which will offer key items such as apples and oranges.

The Retail Gazette adds: "Essential items at £1 include two litre milk, reduced from £1.45, 800g Kingsmill or Brace’s bread cut from £1.25, and six free range eggs brought down from £1.50.

"Outside of key essentials, Poundland is slashing the prices of around a third of its typical core range to £1 or less."

Poundland commercial director CJ Antal-Smith said: “Most retailers look to re-focus customers on high price, big profit items at Christmas as customers splash the cash.

“While we have everything you need at Poundland for an amazing Christmas we’re not going to forget the importance of every day essentials that are the bedrock of every home’s cupboard and fridge.”

She added: “Amazing value milk, bread eggs and sugar will be every bit as important to customers this Christmas as they look to keep within their budgets.”

This news comes not long after Poundland rolled out a rewards app nationwide in October as part of a £20m investment to deliver better value to customers.

Poundland Perks allows customers to collect ‘perk points’ when they spend in-store.

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These can be turned into digital reward vouchers to spend in-store or online when they reach certain thresholds.

Users will also be offered at least 100 Perks offers on various products in the app at any one time.

The rollout follows a successful trial in around 100 stores in Northern Ireland, Scotland and on the Isle of Wight earlier this year.