New kids on the block
DISCOUNT STORES ON RISE
DISCOUNT duo Aldi and Lidl, which both plan to open new stores in Hinckley, will wrestle control of almost one fifth of grocery spend in the next five years, according to industry research.
The German grocers will account for 18.3 per cent of the food retail market by 2022 as they continue their assault on the UK, forecasts from Retail Week Prospect analysts suggest.
Averaging out Kantar Worldpanel data over the past year, Aldi held 6.9 per cent of the market in 2017, while Lidl boasted a 5.1 per cent share, still some way adrift of the smallest big four member Morrisons on 10.4 per cent.
But their combined 12 per cent share of the market is expected to swell by a further 50 per cent, driven by the impact of new store openings - including those earmarked for Coventry Road and Holliers Walk in Hinckley town centre.
Aldi has laid out plans to grow its store estate to 1,000 by 2022, while Lidl wants to open at least one new supermarket every week between now and the end of 2019.
Retail Week Prospect forecasts that their expansion plans and likefor-like sales growth will spark a surge in revenues for both discounters in the next five years.
Aldi’s sales will hit an estimated £14.1 billion in 2022, Prospect data suggests, while Lidl’s UK revenues will reach £11.9 billion.
Plans for Aldi’s Hollier’s Walk site and Lidl’s Coventry Road site have both been lodged with Hinckley planners.
While Aldi’s store will be a new offering to the town, Lidl plan to relocate their existing store from Hawley Road, opposite the Hinckley Hub, to the old HJ Hall site.
Clearance work was due to be completed by Christmas Eve following the demolition of the former factory.