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Shoppers are Turning to Low-Price Supermarkets, Says Aldi CEO

Aldi’s Chief Executive has observed a shift in consumer behavior, with shoppers favoring low prices over traditional full-price supermarkets. This change in preference has resulted in record sales for Aldi, reaching ┬ú15.5bn in the year to December 2022. The company attributes the increase in shopper numbers to cost of living concerns.

The rise in sales represents a ┬ú2bn growth compared to the previous year, marking a milestone in Aldi’s 33-year history in the UK. In just over a year, Aldi has become the fourth largest supermarket in the country, surpassing Morrisons. According to data from Kantar, an additional million customers have been drawn to Aldi during this period of time.

The cost of living crisis, compounded by inflation reaching 6.7% in the 12 months leading up to August, has prompted a change in shopping habits. Shoppers are increasingly seeking better value for their money by reducing trips, opting for own-label products, and switching supermarkets. Giles Hurley, Chief Executive for Aldi UK and Ireland, stated that “Britain is shopping very differently to how it did 18 months ago.”

Aldi’s operating profit has nearly tripled in 2022 to ┬ú178.7m, primarily due to significant spending on COVID-19 measures the previous year. However, the company’s success can be attributed to its ability to cater to a new generation of savvy shoppers who prioritize transparency and low prices.

In Kantar’s latest figures, Aldi tops the list for the fastest-growing supermarket sales, with a growth rate of 17% in the past year. To further enhance affordability, Aldi has invested over ┬ú350m in reducing the cost of 650 items, including recent price reductions on 55 fruits and vegetables.

Looking ahead, Aldi plans to open an additional 500 stores across the UK, bringing its total to over 1,500. This expansion project will result in the recruitment of approximately 6,000 new staff members.

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