Discounter Aldi has unveiled a fresh £125m round of investment in price cuts, as the grocery “reinforces its commitment to never be beaten on price”.
The retailer has earmarked a further £125m of new investment, doubling the £125m it has already invested on lowering the cost of 500 products across its range since the start of the year.
Aldi said that it will have lowered the price of around a quarter of its overall range and a third of its fresh fruit and vegetables since the start of 2024.
The retailer also said it has further plans to lower prices throughout the rest of the year, setting out its ambition to beat the £380m it invested in price across the whole of 2023.
Chief executive of Aldi UK and Ireland Giles Hurley said: “We know that shoppers remain under pressure from the cost of living, which is why we remain laser focused on offering the lowest possible prices.
“We are investing more than ever before in lowering prices, and we will continue to do whatever it takes to keep grocery prices as low as possible for the millions of customers that shop with us.”
Aldi has also pledged to create 5,000 new jobs in the UK and Ireland this year. It recently increased its base rate of frontline staff pay for the second time this year and has plans to open 35 new stores across the country by the end of 2024.
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