Hard discounters are thriving during the cost of living crisis.
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00:00Several leading UK retailers are enjoying significant growth with ambitious expansion plans, despite the challenging economic climate.
00:11Audi remains a frontrunner, announcing plans to open 23 new stores across the UK by the end of 2024,
00:19working towards the goal of reaching 1,500 stores by 2025.
00:24Lidl is on a similar path with its goal of operating 1,100 stores by 2025 and 50 new locations set to open this year.
00:33Both giants are capitalising on increased demand for affordable groceries, solidifying their positions as major players in the UK market.
00:43B&M Bargains, a popular discount chain specialising in household goods, is also thriving.
00:49The retailer announced plans to open 30 new stores by 2025, adding to its 700-plus existing locations across the UK.
00:58Home Bargains is following a similar trajectory, planning to open 20 new stores in 2024.
01:05Like B&M, Home Bargains has tapped into the value-driven market with its focus on household goods, health products and groceries appealing to cost-conscious consumers.
01:16Gregg's, the bakery chain, is also expanding rapidly, with plans to open 150 new stores this year,
01:23bringing its total to nearly 2,500, known for its affordable on-the-go food.
01:30Tesco, the UK's largest supermarket, is adapting to evolving consumer shopping habits by focusing on smaller, more localised convenience stores.
01:40The retailer plans to open 100 new express outlets over the next two years.
01:46Meanwhile, another hard discounter, Poundland, is also planning to open 45 new stores across the UK in the next year.
01:54They cater to budget-conscious consumers with a wide range of low-cost goods.