Aldi shoppers treat themselves as cost pressures ease

Published On Sep 9, 2024, 2:15 AM

Aldi UK has reported record profits driven by an increase in sales of premium own-label products as consumers shift towards higher-end items like Wagyu steak and brioche buns. In 2023, sales rose by 16%, reflecting a change from the previous year's focus on budget-friendly options due to inflation. Despite these positive results, Aldi is experiencing slower growth than competitors, leading to concerns about its market position. Nevertheless, the company plans to expand significantly, opening 23 new stores as part of an £800m investment. Aldi's strategy appears targeted towards increasing its premium offerings, particularly during the holiday season.