Aldi UK and Ireland chief executive Giles Hurley has said shoppers are “trading up” as cost-of-living pressures begin to ease.
He said that some customers are opting for premium own-label lines, such as brioche buns, ready meals, Wagyu steak and premium cheese.
Hurley told the BBC: “It’s still tough out there for millions of families but inflationary pressures are easing for some. For others, it’ll be a decision not to use hospitality but to celebrate at home instead.”
Aldi’s premium own-label Specially Selected range will make up more than half of its festive offering this year.
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It comes as according to recent research from Kantar, premium own-label volumes increased by almost 16% year on year, in comparison to a drop of 10% for value own-label products.
The change in shopping habits follows a positive trading performance for Aldi which in the 12 months to December 2023 increased sales by £2.4bn to £17.9bn, an increase of 16% – its highest ever period of sales growth.
Pre-tax profit also increased to £536.7m, up from £152.6m in 2022.
Hurley told the BBC that this growth “is set to continue and I’m very confident about that because we have massive expansion plans here in the UK”.
Today (9 September), Aldi unveiled plans to invest £800m – its largest ever package of annual investment – in accelerating its expansion across Britain.
