A retailer that may not be a household name but is one of the fastest-growing chains in the country, with smaller stores, a more limited selection, and much cheaper prices compared to the average mega-grocer. The chain is called Aldi, and it’s owned by the same company that runs Trader Joes.
When asked to rank the top 10 grocers offering low prices, consumers ranked ALDI No. 1, ahead of competitors such as WalMart, Costco, Kroger, Meijer and Safeway.
What, exactly, were consumers voting on when giving Aldi the top rating? The survey, conducted by Market Force Information, asked shoppers to rank 10 different grocers in various categories, including service, location, food quality, and low prices. Aldi earned the highest ranking in that latter category, with Walmart coming in second and Costco in third. [time-link title="(Read about the invasion of discount retailers to strip malls near you.)" url=http://moneyland.time.com/2011/05/09/invasion-of-the-discount-retailers/]
That doesn’t necessarily mean that shoppers are flocking to Aldi stores. When asked what they liked about their preferred grocery stores, the top answer among consumers was the practical response “convenient location.” “Providing low prices” ranked second in importance. [time-link title="(Read about the absolute best time of the week to buy groceries.)" url=http://moneyland.time.com/2011/06/08/the-absolute-best-time-to-shop-for-groceries-is-%E2%80%A6/]
Considering that Aldi is one of the nation’s fastest-growing retailers—more than 1,100 stores, with 80 more planned to open this year—more and more shoppers should have access to stores with convenient locations and low prices.