Aldi has revealed plans to spend £550 million opening new stores and upgrading existing ones in the UK this year.
The chain, which has been named the cheapest market of 2023 by consumer group Which?, said more than 1,500 jobs would be created with the new store openings.
Giles Hurley, managing director of Aldi in the UK and Ireland, said this year’s expansion plans aim to address the fact that “there are still areas of the country that don’t have an Aldi , or who need more or larger stores to meet demand.”
The brand has indicated that it is looking for sites in city centers or on the outskirts of cities to set up operations.
It previously said it was looking for sites in priority locations including parts of London, Penzance, Bath, Maidenhead, Worthing, Warrington, Newcastle upon Tyne, Nottingham, Derby, Birmingham, Cambridge, York, Cardiff and Cathcart.
The Germany-based chain, which overtook Morrisons as the fourth largest supermarket in 2022, has gained popularity in recent years thanks to its lower prices and own-brand products.
It hailed its “best ever Christmas performance”, with UK sales up 8% year-on-year to a record of more than £1.5bn in the four weeks before December 24th.
Alongside rival discounter Lidl, they increased their share of the grocery market as shoppers looked to save money in the face of higher inflation.
Aldi has not said how many new stores it will open this year, but is expected to provide more details in the coming months.
The investment of more than £550 million will also be used to upgrade its existing UK stores, warehouses and offices, which the group says will open up new employment opportunities.
Aldi has more than 1,000 stores in the UK and aims to open 500 more in the coming years.
The goal was to have 1,200 stores by the end of 2025.
Mr Hurley added: “We continue to welcome more and more new customers through our doors – people come for our low prices but stay for our award-winning quality and British sourcing.
“We now have over 1,000 stores across the UK, but there are many more Aldi stores to come, in 2024 and beyond.”