Aldi has announced that it is to spend $3.4 billion in expanding its chain of stores in the United States, the effect of which is going to be to make Americans very much richer. Aldi, known for low prices on its private-label items, plans to spend $3.4 billion over the next five years to open 900 supermarkets, the company said Monday. But we really are talking about a new technology here, just as Walmart was when it irrupted onto the scene. Plausible estimates of the magnitude ofthe savings from Wal-Mart are enormous – a total of $263 billion in 2004, or $2,329 perhousehold. All that Aldi is promising us with this $3.4 billion investment and expansion is the opportunity for us to spend our money that way.

Source: Forbes June 12, 2017 15:43 UTC