Aldi is releasing its lowest-priced Thanksgiving meal deal in five years — and undercutting one of its largest rivals — as inflation-weary consumers shift their shopping habits to more affordable private labels. “With 25% of US households now shopping Aldi, we know grocery prices are still top of mind for customers,” said CEO Jason Hart in a press release. As of August, grocery prices were rising at a pace of 0.9% annually, landing in line with the average increase seen in 2019, according to Bureau of Labor Statistics data. Earlier this year, Aldi announced plans to open 800 new stores nationwide in a $9 billion expansion plan. The German company has a low-cost business model and boasts that its prices are up to 50% cheaper than traditional supermarkets.

Source: CNN October 16, 2024 15:46 UTC