New York CNN —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.
The German company has a low-cost business model and boasts that its prices are up to 50% cheaper than traditional supermarkets.
At around 12,000 square feet, its stores are much smaller than a typical US supermarket of 40,000 square feet.
Persons:
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Organizations:
New, New York CNN, Aldi, Walmart, of Labor Statistics
Locations:
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