A place for bad design?

A conversation with a friend got me thinking the other day, whether there is a place for 'bad design' when it comes to branding and marketing ultra-cheap goods. you see extremely cheap stores like poundstores and store-brand food and they always use minimal design and look as basic as possible to convey the idea of cheapness. Is there a way to market 'cheapness' without sacrificing aesthetic? I will set myself a summer project of looking into this as I feel that it's worth exploring.