In the Sun today there is a story about a shop in Poole that has just closed down.

It was called Pound World. It's demise was the result of a new competitor opening opposite called 99p Stores.

As the commentator drily observes " Didn't it occur to Pound World to rename themselves 98p World".

All very amusing but there is a real point here. If retailers insist on trying to compete on price alone ( and I am sure it's very tempting in the current environment) they will never win; well I suppose Penny Land might.