Aldi will open a new 1000sqm store in Mentone, Melbourne next week following the Victorian Government’s planning reforms.
The reforms enabled rezoning of industrial areas for commercial development, with its new store, located at The Mentone Centre, joining a growing list of stores to open in Victoria as a result of the reforms, which began with the opening of Aldi Cheltenham in October 2014.
Aldi has also opened in Altona North and will be establishing new stores in Dromana, Springvale, Traralgon, Epsom Village, and Wendouree.
“By encouraging development in new areas, the reforms have helped increase competition, which ultimately means better value for shoppers,” an Aldi Australia spokesperson said.
The store opening comes as the discount retailer prepares to make its first foray in Western Australia and South Australia. Last week, Aldi commenced recruitment for almost 400 new positions across Western Australia, as it prepares for state-wide expansion in 2016.
Aldi has around 350 stores in Australia after first launching into the market as a relatively unknown discount chain back in 2001, and has managed to quickly gain ground, with an 8.2 per cent slice of the highly concentrated local market.
The discount supermarket retailer confirmed in October 2014 that it would invest $700 million to build two distribution centres in WA and SA, and in April 2015 commenced construction of its 32,000sqm DC at Adelaide’s Regency Park. Aldi began recruiting for 100 positions in Adelaide in August.
IbisWorld forecasts revenue growth of the supermarket and grocery industry in Australia to grow 2.5 per cent to $93.3 billion in 2015-16. Industry revenue is projected to increase at an annualised 2.2 per cent over the next five years through 2020-21, to reach $103.9 billion.
Aldi’s industry related revenue is anticipated to grow at an annualised rate of 11.5 per cent over the five years through December 2015, according to IbisWorld,with this growth more than double that wider industry.
