The pound and 99p shops now familiar on most high streets are seriously undercutting the major names.

Recently skin care products costing up to £8 in Boots have been found, re-labelled, for £1 in Poundland. And the same group sells a multi-pack of 12 bags of cheese biscuits for £1, against the £1 pack of only 7 bags offered by price-cutters Asda.