Retailer Aldi will invest $3.4 billion in continuing to grow its American operation, as it aims to reach 2,500 US stores by the end of 2022.
If it meets the five-year target, the discounter will be the third largest grocery chain in the US with a projected 100 million customers per month. Aldi said the investment would add 25,000 new jobs across its stores, warehouses and offices.
It follows investment of $1.6 billion earlier this year to remodel and expand more than 1,300 US stores by 2020. The new Aldi stores will provide a more modern and convenient shopping experience with a focus on fresh items, including more robust produce, dairy and bakery sections.
The changes reflect growing footfall for the German company. It said that it was ‘bucking the trend’ in ‘a turbulent retail environment’ by showing growth in both customer numbers and total revenue.
Aldi already has plans for 2,000 US stores by 2018 – up from 1,600 in 2014.
It also operates 400 outlets of the grocery chain Trader Joe’s.
Jason Hart, CEO of Aldi in the US, said: “We pioneered a grocery model built around value, convenience, quality and selection and now Aldi is one of America’s favourite and fastest-growing retailers. We’re growing at a time when other retailers are struggling. We are giving our customers what they want, which is more organic produce, antibiotic-free meats and fresh healthier options across the store, all at unmatched prices up to 50% lower than traditional grocery stores.”
The retailer has continued to evolve its product offering – including more fresh food, speciality wines and cheeses, and organic produce – as the once-obscure chain grew into an increasingly mainstream supermarket.
It now has its sights on the future, mounting a challenge to retail dominants including Walmart, Albertsons and Kroger.
“We have passionate fans who know Aldi offers a smarter way to feed their families in a modern, convenient and easy-to-shop environment,” Hart said.
© FoodBev Media Ltd 2017