The One Pound Twenty Shop

In New Quay, the Welsh one with a gap, not the Cornish one without one.

Apparently it is famous. I can't confirm or deny that, but I was intrigued by it. Clearly it was once a pound shop but has since moved into a less common category - the £1.20 shop. Are the things inside 20% better or bigger than those found in regular pound shops? Or did the owners simply realise that the profit margins would be healthier if they put everything up by 20p? I don't know - I didn't go in, opting instead to sit on the sea wall eating squid and chips and watching the dolphins in the bay.