Discounter Lidl is likely to generate around $8.8 billion in sales by 2023, which would put it ahead of established retailer Wegmans within just five years of trading, according to a forecast by Kantar Retail.
The discounter is set to launch its US operations in 2018 and planning an aggressive store-opening drive in its first year.
Kantar Retail projects that Lidl will open 100 stores per year in the States, reaching 630 stores by 2023.
'Lidl is targeting the eastern seaboard of the United States, putting it into direct competition with a number of retailers, including Wal-Mart, Dollar Tree, Food Lion and Stop & Shop,' read a Kantar Retail statement. 'Its growth is expected to outpace the market for some time.'
Kantar Retail also noted that the retailer's first stores could generate an average of $10 million in sales, averaging $15.2 million in sales per store by 2023.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
