Updated: Mar 16
Discount Retail Chain Lidl UK (owned by the German Schwarz Group) has continued its rapid expansion as it has now become the sixth largest supermarket in the country for the very first time.
The discounter has seen a rapid surge in sales recently which, according to new sales data, has seen the retailer overtake Co-op for the first ever time.
Latest figures from Kantar Worldpanel market share data has revealed that the supermarket has seen a 6.1 percent growth, as rising inflation pushes shoppers towards discounted stores.
In comparison, Co-op only increased by 5.7 percent. The recent rise in sales and addition of 1 million new customers has seen the supermarket on par with rival discounter Aldi for joint-fastest growing grocer. It comes after rising prices caused by the cost of living crisis has seen shoppers switch to budget retailers as they try to keep costs down.
Lidl GB CEO Ryan McDonnell commented: “We are extremely proud that more customers are choosing to shop at Lidl. But it’s also not a surprise, because it has always been our firm belief that no one should have to pay a premium for good food.
"This belief is at the core of everything we do, whether that’s keeping prices low or making our offer as accessible as possible through the opening of new stores.