Aldi Contributes £8.5 Billion To UK Economy In 2016
Discount retailer Aldi contributed to the generation of more than £8.5 billion to the UK economy in 2016, according to a report published by the Centre for Economics and Business Research.
This figure was generated through a combination of job creation, spending with British-based businesses, tax contributions and capital investment, and it is set to grow to £11.5 billion by 2022, as Aldi reaches its target of 1,000 stores in the UK.
The report notes that much of the increase is a result of Aldi sourcing products manufactured or grown in Britain whenever possible, generating 77% of its sales from products sourced via UK suppliers.
Last year, the retailer supported 146,000 direct and indirect jobs across the UK, but this is predicted to rise to at least 205,000 by 2022.
“For the first time, this report demonstrates how the positive impact of Aldi’s low-priced, high-quality products stretches beyond our stores," said Matthew Barnes, CEO of Aldi UK and Ireland. "Our approach to sourcing as local as possible means that shoppers are able to enjoy the best-value products, with the confidence that they’re supporting British companies and jobs.”
Between 2005 and 2016, Aldi invested £3.2 billion in its UK portfolio, which now features 726 stores and nine regional distribution centres.
The latest figures from Kantar Worldpanel reveal that it is currently the fifth-biggest supermarket in the UK, with 7% market share, however, it saw sales rise by 17.2% in the most recent period.
“We continue to invest in expanding our store network and our supply chain, as well as smart ways of working that reduce waste and drive efficiencies," added Barnes. "As well as providing people with sizeable savings on their weekly shopping, this will help further multiply the value of how much every £1 they spend in Aldi delivers for the UK economy.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.