If you like grabbing bargains in pound shops, you can now do it online as two new outlets have opened on the web. But before you abandon high street stores, be prepared for minimum spends and delivery charges.

Steve Smith, who founded the Poundland chain in 1990 before selling his share 12 years later, launched Poundshop.com this afternoon (see our Cheap Online Shopping guide for tips on cutting costs).

Shoppers can bag thousands of £1 items from brands including Colgate, Haribo and Johnson's. High street chain Poundworld is supplying its stock.

But shoppers looking to buy online at Poundshop.com will have to spend at least £10, while home delivery costs £3.65. Be warned though, Poundshop.com has been suffering technical issues due to the amount of traffic trying to access the site.

So if you're planning a pound store shop, first compile a list of what you need and work out whether you're better off buying online or heading to your local high street.

Smith says: "I don't think the minimum spend will put people off. People will use this as an opportunity to stock up without having to drag all their items home."

A free click-and-collect service is likely to be available through Poundworld stores "in future".

No minimum-spend alternative

Poundshop.com isn't the first online pound store. Hereforapound.com, run by Exeter couple Donna and Mark Baker, launched online last week.

Unlike Poundshop.com, it has no minimum spend, while home delivery costs £3.50 – 15p cheaper than its rival.

Brands on Hereforapound.com include OPI nail polish, Bic razor blades, and Nestle sweets.