There’s a fresh-to-the-U.S. supermarket chain with a funny name that has some very serious plans for American shoppers. Germany-based Lidl (rhymes with needle) is a deep-discount retailer that started rolling out stores in June. Several locations are already up and running in Virginia, North Carolina, South Carolina and Delaware. Lidl’s goal is to open another 100 stores along the East Coast within a year and operate 1,400 across the nation by 2023. The U.S. headquarters is in Arlington, Va.
Lidl may be new to you, but the company is no newcomer. It operates 10,000 stores in 27 countries, and has famously squared off against rival German grocery discounter Aldi in Europe, where it has found immense popularity. (Pub denizens even sing a ballad about Lidl in Ireland.) The success of Lidl’s business strategy relies on small-but-attractive stores, high-quality store brands, eclectic non-grocery offerings and, above all, super-low prices. If U.S. shoppers embrace the concept, the chain could quickly become a serious threat to a wide swath of retailers, from traditional supermarkets to dollar stores, warehouse clubs to sporting goods stores.
“Lidl’s entry into the U.S. is going to be the greatest thing to raise shoppers’ standard of living since World War II, more than Amazon, more than plunging energy prices; Lidl will precipitate a price war of unprecedented proportions,” says Burt P. Flickinger III, managing director of Strategic Resource Group, a consulting firm specializing in retail and consumer goods.
There’s a lot more to learn about Lidl. Sneak a peek.
SEE ALSO: Things You Should Never Buy at Aldi
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Date — September 7, 2017 4:00 am
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