Aldi, the German-based international grocery chain, plans to open 650 new stores in the United States over the next five years. The company currently has about 1,600 stores in 35 states.
The expansion plans were announced by CEO Jason Hart during a recent interview with CNBC. When asked about the company’s growth strategy, Hart said that Aldi plans to enter new markets and open additional stores in existing markets.
He also said that the company is looking to expand its product offerings.
Aldi’s expansion plans come as the grocery industry is undergoing a major transformation. Traditional grocery chains are facing increased competition from discount retailers, such as Aldi and Lidl, and online grocers, such as Amazon.com.
In order to compete with these new entrants, traditional grocery chains are investing billions of dollars in their own online businesses and expanding their own discount store formats. Kroger, for example, has announced plans to invest $3.4 billion in its digital business over the next three years.
Aldi’s expansion plans will help the company keep up with its competitors and take advantage of the growing demand for discount groceries. The company’s aggressive expansion strategy is also a way to offset any potential slowdown in growth due to the ongoing pandemic.
Where is Aldi planning on opening new stores?
Aldi plans on opening 650 new stores in 35 states across the United States. The company is looking to enter new markets and open additional stores in existing markets.
