An airline tycoon in the UK has pushed budget grocery shopping to a new level with the opening of a store that aims to fit in between discount retailers such as Aldi and foodbanks.
British tycoon Stelios Haji-Ioannou, famed for founding the easyJet budget airline, has opened a the Easy Foodstore in London, where every item is currently selling for just 25p.
Just been to check out @easyFoodstore. Everything 25p during Feb. One family spent £27 while I was there... pic.twitter.com/PfdIQlpWNt
— Luke Tugby (@LukeTugby) February 1, 2016
Prices are expected to rise to 50p, according to The Guardian, and there are just 76 products currently available, but the new venture has already attracted sizable attention.
The store is effectively an office that has been repurposed in the easyJet orange and stacked with a range of everyday staples, from biscuits to tinned peas.
The store is currently on a trial, with Stelios aiming to open more easyFoodstores if the London store succeeds.
A spokesperson said the easyJet founder is looking to fill a need in the market, helping those stuck between food banks and shopping at discount supermarkets.
“Say you’re on benefits and then you get a low-paid job,” Richard Shackleton, communications director for easyGroup, told The Guardian.
“You can’t use the food bank any more, but Sainsbury’s, even Aldi and Lidl, are on the pricey side. You need somewhere you can get the basics for a low price.”
The new level of discount shopping joins a UK grocery market where major retailers such as Tesco continue to struggle in the face of discount chains such as Aldi and Lidl.
