As Inflation Rages On, Aldi Continues To Be A Top Spot To Shop
Price hikes have taken hold of the United States in the last twelve months, and now in late 2022, just one mention of the word "inflation" is apt to make most people shudder. In August the overall inflation rate lowered from the astronomic peak of 9.1% to 8.3%, yet the cost of food remains high with an overall increase of 11.4% in 2022 (per Trading Economics).
The price of food has been a huge stressor for most Americans with the biggest cost differences noted in meat and dairy items like ground beef and milk. The unfortunate news remains that the USDA predicts food prices in grocery stores to rise between 2% to 3% in 2023, which makes the prospect of buying the cheapest groceries without losing quality a top priority for most.
When prices began increasing earlier this year, Aldi proved to be a popular option as the grocer's rising customer base led to promises of store expansion (per Forbes). According to The Wall Street Journal, more people have turned away from name brands amid inflation, boosting Aldi's private label and making discount prices more desirable to consumers. As we approach the end of a tumultuous year of price hikes, Aldi proves to be a leading contender in the grocery store market.
Aldi ranks second in consumer relevance
According to a recent retailer preference index report by dunnhumby (via Grocery Dive), Aldi ranked second in a pool of 69 grocery contenders for consumer applicability amidst inflation. Beyond expanding its store count, the discount grocer saw an 11% increase in foot traffic with plans to see a higher count by the year's end.
When it comes to the best and worst foods to buy at Aldi, even those with higher incomes are jumping on board. Aldi reported the brand has seen an increase in shoppers who make more money annually, which has helped the company double its sales numbers in the last year (via Reuters). If you're an Aldi regular, you're aware of the company's unique streamlined process in-store. Aldi anxiety anyone? Yet, fewer employees, faster checkout, and a smaller assortment of products are proving to be some of the crucial ways the budget grocer remains a top competitor in delivering low prices (via Reuters).
While prices go through ups and downs depending on the market, consumers on Reddit agree that the cost savings at Aldi are worth the extra drive. With 100 new stores expected to hit the US by the end of this year (via CNN), if you're looking to save the most on food, budget shoppers agree Aldi's the place to go.