Discount grocers to outperform conventional stores as food prices surge: Report
, benefitting the grocery industry in general as people forgo restaurant dining to cut costs, it said.Efforts to curb spending “should favour discount grocers over their conventional peers, as consumers seek promotional discounts on individual items, substitute branded offerings with private-label products, and trade down to more affordable offerings within the same product category,” it said.
Discount grocer Aldi, for example, recorded year-over-year sales growth of about 23 per cent, 24 per cent, and 27 per cent in October, November, and December of 2022, respectively, the report said. The expected growth in discount in Canada the opposite of what occurred during the COVID-19 pandemic. The strength of the market grocery stores began to ebb as the cost of living began increasing, the report said.
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