Lidl doubles down on loyalty pricing despite Aldi attacks
Lidl grew its profit and revenue last year after pulling in an additional 43m shopping trips, as the discount grocer doubled down on its loyalty price scheme. The German firm and rival Aldi have swept to dominance of the budget grocer market in recent decades, but Aldi has hit out at its competitors for allegedly [...]
Lidl has announced its commitment to strengthening its loyalty pricing scheme despite facing criticism from Aldi. The German discount grocer has reported a significant increase in its operating profit and revenue, driven by a 23 per cent rise in users of its Lidl Plus scheme. Lidl's year-to-year revenue growth of 10.8 per cent to £13bn was attributed to 43m additional shopping trips, which in turn led to a £650m increase in sales.
The company's investment of £315m in price cuts and promotions contributed to the growth in sales of 486m more products compared to the previous year. Lidl's focus on higher footfall to its supermarkets is evident in its continued investment in store upgrades, including the addition of self-checkouts, energy-efficient lighting, and freezer upgrades.
The company plans to open more than 50 new supermarkets by 2027, as part of a £600m investment in expanding its reach.
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