Aldi doubles down on price promise to customers amid rising costs

Budget supermarket retailer, Aldi, has pledged to continue to provide the lowest grocery prices in the UK to help households “meet soaring living costs”.

The news comes as the company is said to have attracted 1.5 million extra customers to its stores over the past 12 weeks as “squeezed” shoppers search for value for money. The brand’s existing customers are also consolidating their grocery spend and using Aldi as their “first and only” supermarket choice.

It is reported that the retailer’s latest trading data shows sales growing at 18.7% with a market share at 9.3%, which is said to be the highest at any point during its 32-year history and makes Aldi the fourth largest supermarket after recently overtaking Morrisons.

In addition, the percentage of households shopping at Aldi also rose to 65%, making it Britain’s third most popular supermarket.

Aldi operated over 970 stores and is planning to open 16 more before the end of the year. Other investments, which are part of its ongoing £1.3bn two-year pledge, reportedly include expanding or relocating existing stores and developing its network of distribution centres and technology infrastructure.

Its expansion will also create over 6,000 new jobs this year, adding to the 4,500 permanent roles created last year.

However, despite the supermarket’s pledge to return its business rate relief in full to HM Treasury, its profits have reportedly fallen due to this investment in lowering prices and increasing colleague pay.

According to Aldi, it also sources its entire core range of fresh meat, eggs, milk, butter and cream from British suppliers, and said it had spent an extra £2bn with UK companies last year, taking its total to £11bn.

Giles Hurley, CEO of Aldi UK&I, said: “The cost-of-living crisis is worsening, and it’s being felt by millions of households across the UK. It’s in times like these when our customers rely on us the most, which is why we’re focusing on continuing to deliver our longstanding price promise by offering the lowest possible prices in Britain, every single day.

“It’s also a time when Aldi comes into its own. From our carefully selected range to our smaller format stores to our trademark efficiency, we can leverage our unique approach for the benefit of all of our customers.”