Aldi has pledged to invest €320 million over the next three years (2022-2024) in a bid to further grow its share of the Irish grocery market.
The retailer said that it will increase its investment in Ireland by more than 75% over the next three years compared to 2019-2021.
Commenting, Niall O’Connor, group managing director at Aldi Ireland said, “This investment builds on the €1.6 billion we have already invested in Ireland and is a clear sign of our ambition, and the demand that exists for Aldi to be in more locations across Ireland."
The new stores will provide additional trading opportunities for the 330 Irish producers Aldi now partners with.
"We will spend over €1 billion with Irish producers this year, an increase of almost 20% on 2020,” O’Connor added.
This includes €250 million on Irish food and drink during the busy Christmas trading period.
Record Year Of Trading
The investment announcement follows a record year of trading. Aldi’s turnover in Ireland grew by 14% to €2 billion in the year to 31 December 2020 (2019: €1.74 billion).
At the end of 2020, Aldi held 11.2% of the Irish grocery market, according to Kantar Worldpanel, as almost 85% of Irish households shopped with Aldi.
This growth has continued into 2021 with Aldi’s market share standing at 12.7%.
Over the past two years, Aldi noted that it has made huge progress in meeting its targets of halving the volume of plastic packaging it uses by 2025 and ensuring 100% of its own-brand product packaging will be recyclable, reusable, or compostable by the end of next year.
95% of its own-brand products now feature eco-friendly packaging, while 2,150 tonnes of virgin plastic having been removed from its stores and a further 930 tonnes of non-recyclable packaging materials replaced with recyclable alternatives.