Aldi, the low-cost supermarket chain, has reported a 25% increase in second quarter sales due to the continued pressure on consumer spending. The German chain saw sales surge by 44% in July compared to the same month last year.
The retailer, which has 377 stores across the country, says the figures show that consumers are switching from their traditional supermarkets to lower-cost alternatives, as consumers are face with rising household bills.
Aldi UK’s managing director, Paul Foley, says: “We had a gradual rise in sales over the last four years but this spike is due to a tightening of the economy.”
The German chain does not publish its results, but according to data from market researchers TNS, the supermarket has seen its market share grow by 20% over the last year.
Aldi stores currently only stock 1100 product lines for lower prices than its competitors. The chain now has 1700 stores in 16 countries worldwide.