Lidl has become London's third-largest supermarket, claiming a staggering 91% market share. With over 100 stores in the M25 area and £9.3 billion in UK sales, their rapid rise is clear. Asda, now in fifth place, plans to counter this by opening 17 new convenience stores, having acquired 132 sites from the Co-op. Lidl's CEO, Ryan McDonnell, highlights their dedication to affordability and quality. Their vision includes 247 potential store locations in the UK and aims to reach 1,100 stores by 2025, underscoring London's evolving retail landscape.
London, a bustling metropolis, is witnessing a transformation in its supermarket hierarchy. Lidl, the German discount supermarket chain, has emerged as the third largest supermarket in the capital, surpassing Asda. Its rapid expansion within the city has propelled it to a market share of 91 percent in London.
Lidl has been making significant strides in London, currently operating from over 100 stores within the M25 area. In the 12 weeks leading up to October 1, Asda held a London market share of 8.7 percent, according to Kantar, a prominent market research firm. This decline in Asda's market share has pushed it to the fifth position in the rankings, falling behind Waitrose, which holds a market share of 9 percent. Tesco and Sainsbury's continue to dominate as the leading supermarkets in London, boasting market shares of 26.6 percent and 24.3 percent, respectively. Morrisons secured a market share of 5.4 percent, while Aldi held a market share of 4.1 percent.
Ryan McDonnell, the CEO of Lidl GB, underscores the significance of Lidl's rise in London. He emphasizes their commitment to making affordable, high-quality food accessible to people throughout the city. Recognizing the importance of convenience in urban shopping, Lidl GB is actively pursuing expansion plans to open more stores in the capital.
Lidl GB has identified 247 prime locations for new stores across the United Kingdom, with a particular focus on prestigious areas in London, including Chelsea, Kensington, Mayfair, Westminster, and Knightsbridge. Their ambitious goal is to reach a total of 1,100 stores in the UK by the end of 2025. At present, the chain, which first introduced its stores in the UK in 1994, operates approximately 900 stores nationwide and provides employment to around 23,000 individuals.
Lidl's sales in the UK have witnessed a substantial upswing, climbing to £9.3 billion, marking a nearly 19 percent increase from the previous year's figure of £7.8 billion.
Asda acknowledges Lidl's rise and attributes its growth to Lidl's significant increase in the number of stores within the capital. As part of its expansion strategy, Asda aims to enhance its presence within the M25 by launching 17 more Asda Express convenience stores by the end of March. These stores will include both standalone locations and sites acquired from the Co-op, currently undergoing conversion. Notably, Asda acquired 132 sites from the Co-op in a £438 million deal last year.
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