Aldi hints at huge change to shopping as part of 2023 plans
These above inflation hikes have raised concerns that poorer households are squeezed further because there isn’t a cheaper alternative.
Mr Hurley defends the grocer saying shoppers care about pounds and pennies, rather than percentages, and Aldi has put the average price of an item up by 12p, less than its nearest competitor which has raised prices by 14p while discount peerWhile the cheapest, Aldi is not immune to inflationary pressures and this year its profits dived by 86% to just £36million.
Mr Hurley says that not being dictated to by public investors or buyout group’s exit timetables was the "luxury of private ownership.""Our market share and growth is very much determined by us having the lowest food prices in the UK." Mr Hurley admits that Aldi, which will have 980 stores by the end of this year has fallen short of its target of having 1,000 stores by the end of 2022.
He blames the delay on lockdowns, labour shortages, planning red tape and interference from rivals, rather than a lack of ambition.It is now racing to open 16 new shops in the last three weeks of this year and Mr Hurley says that it will reach 1,000 stores next year and keep going.
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