{"id":41455,"date":"2022-09-27T08:49:42","date_gmt":"2022-09-27T08:49:42","guid":{"rendered":"https:\/\/www.grocerygazette.co.uk\/?p=41455"},"modified":"2022-09-27T12:49:10","modified_gmt":"2022-09-27T12:49:10","slug":"aldi-keep-price-low-globaldata","status":"publish","type":"post","link":"https:\/\/www.grocerygazette.co.uk\/2022\/09\/27\/aldi-keep-price-low-globaldata\/","title":{"rendered":"Opinion: Aldi’s market share will continue to grow as it remains the ‘affordable option’"},"content":{"rendered":"
\nAldi’s plan to squeeze profits to keep prices low and win over new customers has proven successful, as it attracted 1.5 million extra customers to its stores over the past 12 weeks.<\/p>\n
Following the release of Aldi\u2019s figures for FY2021, the discount grocer reported an 86.5% drop in profits to \u00a335.7 million last year<\/a>, which it partly blamed on ‘pandemic-related expenses’ as it pledged to prioritise lower prices over short-term profits.<\/p>\n Amira Freyer-Elgendy, consumer analyst at GlobalData, predicts that the gamble will pay off, with Aldi’s market share likely to increase by a large margin in the near future.<\/p>\n She said: \u201c2021 results are marked by slow sales growth and a hefty profit decline, but the retailer has been gaining share in 2022 due to the cost-of-living crisis, as shoppers are flocking to the retailer for its value proposition.<\/p>\n “GlobalData estimates that Aldi will increase its food and grocery market share to 7.1% in 2022, overtaking Morrison\u2019s (7%) and therefore becoming the fourth largest grocer in the UK.”<\/p>\n For the latest grocery news directly into your inbox, Aldi has pledged to continue to keep prices low as shoppers have been turning to the supermarket in a hunt for the best deals as the ongoing cost-of-living crisis<\/a>\u00a0worsens for many UK households.<\/p>\n
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