The rump steak is only being sold in certain stores across the UK, but some people have already been able to get their hands on one to try it out for themselves.
With each cut weighing 200g, the steaks cost just £2.50 each – a fraction of the price it would cost in many other supermarkets or butchers.
One shopper posted a photo of the steaks on the Extreme Couponing and Bargaining UK group, writing: “Rump steaks in Poundland only £2.50."
Someone else also shared it on the Poundland Dundee page, saying: “200g rump steak. Only £2.50 #taysidepoundlanders #shoplocal.”
However, it seems not everyone's been won over by the cut-price steak, with some customers taking to social media to complain about the product.
One person said it tasted 'absolutely awful... like leather', while another agreed: "Awful, like shoe leather but to be fair it's really difficult to buy decent steak these days."
Someone else wrote: "Don't put this into your body, I beg of you. If you want a steak, invest in it a little bit more. This ain't it."
Others fumed about the price, pointing out that it cost far more than the £1 they're used to paying for many Poundland items.
"Should be a pound," one said, with one other saying: "If it's Poundland surely everything should be a pound."
But others were quick to point out that Poundland has often sold goods that don't cost £1, and has done for years – with some, of course, being cheaper or part of a £1 multibuy offer.
"Poundland has included none £1 things for years," one said.
Speaking up in defence of the steak, another commented: "I think for the price they’re alright… I usually do a steak Cantonese with them. Tbh was ok to have with chips and peppercorn sauce too."
Plus, the £2.50 steak is still a lot cheaper than similar products of a similar weight, with Iceland's 227g rump steak costing £3.65, the Co-op selling a 227g rump steak for £4.25 and Tesco's 255g steak coming in at £3.80.
Sainsbury's has a 225g rump steak for £3.15 – along with a 'Big Daddy' version for £5.75 – while Asda also offers a 225g rump for £3.90.
In a statement to LADbible, a spokesperson for LADbible said: "Our Castlerahan rump steaks are from one of Ireland’s leading producers - who also supply other well known food retailers across the UK & Ireland.
"Customers that have actually tried it, have loved the taste as well as the price.”
Featured Image Credit: Keenretail/Alamy Stock Photo/Facebook/Poundland Dundee