UK's first £5 shop opens in Northampton as online retailer makes the move from 'clicks to bricks'

Only5Pounds.com opened its first store in Northampton last week - making it the first 5 of its kind in the UK.
Only5Pounds.com opened its first store in Northampton last week - making it the first 5 of its kind in the UK.

The first in a new breed of discount store that could spread to high streets across the UK has opened in Northampton - the £5 shop.

After years of operating solely online, Only5Pounds.com launched its first retail shop on Abington Street last week.

None of its shelves have individual price tags. Instead, the shop sign promises that everything on offer will cost a fiver.

The town centre store is the first of its kind in the country and owner Vinod Chopra says he has plans to bring his brand to high streets everywhere.

Vinod said: "After nearly two weeks of business, thing are going well. At least, better than what we expected. You see on the news that shops are closing down and the high street is done for.

"So to come from an exclusively online background and taking a gamble like this has so far been alright."

Vinod says he chose Northampton to be the proving ground for his brand as it has a more "traditional" high street and cheaper business rates compared to his hometown of Milton Keynes.

The brand hopes to establish itself as a competitor to other discount shops like B&M and distinguish by charging five-times the price of rival stores like Poundland and the collapsed Poundworld.

He said: "You can get more value from a fiver than in pound shops. And a fiver always sounds like a good price. You see it and think, 'It's only a fiver'.

"We had lots of students visit since the university opened looking for duvet covers and essentials."

The Only5Pounds.com store will also serve as a click-and-collect point for customers shopping online.

Starting out of Northampton, Vinod says he has his sights set on bringing his brand to the rest of the Uk over the next five years.

It comes after Poundworld closed its doors in the nearby Grosvenor's Centre in July after the company went into administration, resulting in 531 job losses,