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The shift in consumer preferences towards private label products has been further accelerated by inflation. Industry-wide private label sales grew by 34% between 2018 and 2022, reflecting consumers’ increased focus on value amidst rising prices.
Resilience During Economic Downturns
Aldi’s growth during economic recessions underscores its resilience and strategic positioning. The 2008 financial crisis, for example, prompted Aldi to open around 100 new stores each year, a pace it has maintained despite economic fluctuations. Notably, the company gained and retained a loyal customer base during those challenging years, illustrating consumer trust in Aldi’s pricing and efficiency.