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Giles Hurley, Aldi UK chief executive, revealed record profits, Source: Aldi[/caption]The BBC reports that, "the boss of Aldi UK says shoppers are treating themselves to more expensive products as cost of living pressures start to ease".Customers are be "trading up" to premium own-label products. It is a shift in behaviour from 2021, when soaring food prices saw a boom in cheaper supermarket own-label products as shoppers cut back and bought fewer brands to save money.On Monday, Aldi revealed a 16% increase in sales in 2023 and bumper profits, though the discounter has recently lost ground as its competitors fight back.The supermarket announced it would open 23 new stores in the next 16 weeks as part of an £800m investment plan.Aldi's premium own-label ranges is growing ahead of other products, which is a similar picture for the wider grocery market as well."It's still tough out there for millions of families but inflationary pressures are easing for some," said Aldi UK chief executive Giles Hurley. "For others, it'll be a decision not to use hospitality but to celebrate at home instead."Read the story on BBC website
