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I’m going to have to swap my shopping basket for a trolley. Shelves stretch as far as the eye can see across a vast warehouse groaning with every kind of product imaginable: food, toiletries, baby essentials, pet supplies, kitchenware, bathroom accessories, electricals, bedding, gardening equipment, toys, stationery, cleaning products, curtains, DVDs, make-up, lighting, children’s shoes . . .And that’s before you even notice the mezzanine level packed with paint, tools, rugs, picture frames, mirrors and furniture. Or the yard outside stacked high with fence panels, plants, paving stones and compost. You name it, this shop seems to sell it. Jenny Wood visits the store that has been dubbed the new Woolworths - and is pleasantly surprised with what she findsIt’s no wonder that while most competitors have seen revenues fall in the past year, this retailer’s has soared by 23 per cent - making it one of the fastest-growing retailers in Britain. Yet I wouldn’t be surprised if, like me, you haven’t heard of it.
B&M, dubbed the new Woolworths, even sells the much-missed pick ’n’ mix sweet selection. But you won’t have seen it advertised on TV or radio as, unlike most competitors, it relies instead on social media and word of mouth.Former Tesco chief executive Sir Terry Leahy joined as chairman in 2012 and has overseen a massive expansion: they’ve gone from 20 to 500-plus shops in the UK and Germany in the past eight years, are opening at least one new store a week and are enjoying annual sales of £2 billion.I’m in the 37,000 sq ft branch just off the high street in Leytonstone, North-East London. And as someone who shops in John Lewis and design-led independent stores for homeware, I’m pleasantly surprised. And I’m not the only middle-class shopper.‘If you were to look in the car park at some of our stores, you’d be astonished - there are just as many BMWs and Audis as Fords,’ says CEO Simon Arora, who bought B&M (which stands for Billington & Mayman, the original Blackpool-based owners) with his brother Bobby, 12 years ago.‘
It’s a really broad range of customers, in terms of age and class. Everyone loves a bargain. These days, there’s no embarrassment around having saved money - it’s called savvy shopping.’ The range of customers visiting B&M is huge - which proves that everyone loves a bargainAnd the appeal goes beyond money-saving: ‘When you walk in, it’s very difficult not to buy - as it’s cheaper than where you’d usually shop,’ says Simon.He’s spot on. Within minutes of entering the grocery section, I’ve spotted organic coconut oil for £2.49 (similar costs £5.99 in Holland & Barrett) and John West tuna on offer at £4.50 for eight tins (£5 for four at Ocado).In the electrics aisle, there is a Gear 4 speaker for £19.99 (£39.99 in Currys) and a Goodmans steam generator iron for £29.99 (£43.83 on Amazon). It’s a similar story in the homeware section: an Avengers single duvet set is a steal at £9.99 (a similar one from Next costs £25) and a fun owl-shaped lamp is £6.99 (£12.99 at Dunelm).
The toy and baby aisles are full of bargains, too. The shop is filled with bargains - from baby equipment and toys to speakers, sweets and foodThe shoppers I meet are evangelical about the place. Maureen Myles, 50, a liaison officer, and her mother, Joyce, have travelled for more than an hour from Croydon to buy artificial grass at £9 a square metre among other bargains. ‘Yes, it’s like Woolworths, but it’s so much better,’ says Maureen.‘Shops like Argos haven’t changed in years - but here you can buy different things all the time, particularly homeware. The staff are also very friendly.’Yes, there are some cheap-looking fleece throws and frumpy velour cushions, but there are gems, too. I spy a lovely copper clock for just £4.99 (similar would set you back £68 online) and a trendy footstool for £12.99. ‘We’re obsessive about making sure we’re on trend with colours, styles and artwork. Our buyers scour the globe from Paris to New York,’ says Simon. This approach means B&M is a hit with the younger generation, as well as their parents.
In the cosmetics section, I meet student Alice Struthers, 16, who reckons the store only just lags behind Superdrug for make-up.Robia Wellington, 24, says: ‘It’s hard to know where to look. There’s food, nice furniture, toiletries - it’s like a mixture of Wilkinson, Homebase, Currys, Argos, a supermarket and Poundland rolled up into one.’And that’s the idea: ‘We have 100 new lines a week across 20 categories, so there’s always something new. It means we compete with everyone from Tesco to boutiques,’ says Simon.So how do they get away with such low prices?B&M follows a similar model to TKMaxx, buying direct from factories and looking out for overproduction deals or bulk buys.The retailer makes less profit per item by selling them cheaper than competitors, but they’re selling these items in huge numbers. More than three million people visit the smaller high street B&M Bargains stores and larger B&M Home stores each week.Four million birdseed balls fly off the shelves annually, along with ‘tens of thousands’ of puppy toilet training pads.