Lidl's festive secrets
The CEO of Lidl, Ryan McDonnell, recently sat down with us for an exclusive interview to discuss how the supermarket is preparing for Christmas. According to McDonnell, Lidl's low prices have attracted customers who are looking to save money during the cost-of-living crisis. With 90% of its products being own-brand, shoppers have been switching to Lidl to cut their food bills.
Stealing sales from rivals
McDonnell revealed that Lidl has managed to poach £685 million worth of sales from its supermarket rivals in the past year. Notably, £58 million of those sales came from Waitrose, Marks & Spencer, and Ocado. McDonnell also highlighted the affordability of shopping at Lidl, stating that the store is £10 cheaper than Tesco and £17 cheaper than Waitrose.
A fast-growing supermarket
Lidl currently holds 7.6% of the UK grocery market and McDonnell believes the company can increase its market share to double digits. With 960 shops, 31,000 staff, and 14 warehouses, Lidl is the sixth-largest supermarket in the UK. While it is often compared to Aldi, McDonnell emphasized that Lidl focuses on itself rather than trying to be like its competitor.
Early signs of a busy Christmas
Lidl has already seen an 11% increase in shoppers visiting its stores over the past six weeks compared to the previous year, indicating that people are starting their Christmas shopping early. McDonnell shared that Lidl is already selling two mince pies every second and shoppers are buying a mini snow globe from its "middle aisle" every two seconds.
A traditional Christmas feast
When asked about his own ideal Christmas dinner, McDonnell said he keeps it very traditional with smoked salmon to start, followed by turkey, ham, stuffing, and all the trimmings. And of course, a warm mince pie with fresh cream to finish it off.
Did you miss our previous article…
https://hellofaread.com/money/lloyds-to-close-45-more-high-street-branches/
