Britain’s big supermarkets say they have never been more competitive on price, yet their customers are still flocking to German-owned discount stores Aldi and Lidl. | Reuters
“That’s not just from customers visiting new stores.”
Aldi is targeting 1,200 UK stores by 2025 from its current 990, and Lidl is aiming for 1,100, from more than 950. Discounters hold more than a third of the supermarket sector in countries such as Germany, Poland, Denmark and Norway and the British shopping landscape is likely to follow suit.“The UK will model to what many of the European countries have,” Leigh Sparks, professor of retail studies at the University of Stirling in Scotland, told Reuters.
With Britain teetering on the brink of recession, and food price inflation above 15 percent, the traditional players are this time putting up a fight. While the price gap with the discounters remains material – at 14-18 percent for a 45-item shopping basket according to Which? – it has narrowed in recent years.
Some investors say the worst of the pain is behind the traditional players and that dividend yields of nearly 5% at Tesco and Sainsbury’s make them solid investments. “At some point, there will end up being some form of industry re-basing or consolidation because the amount of space being put down is greater than the increase in demand.”
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