Lidl has set the target of reaching 1,100 stores across the UK by 2025 and is investing £1.3 billion across 2021 and 2022. It now however wants to involve the public in finding its newest sites with a finders fee offered to those who can identify previously unknown sites which meet the firm’s requirements. Richard Taylor, Chief Development Officer at Lidl GB, said: “We work with some of the best people in the industry to identify new sites, but we also know how engaged our future and existing customers are and we want to build on this. Our finder’s fees are, therefore, available to absolutely anyone that can identify a viable option for a new store that we’re not already aware of, and we welcome any suitable suggestions that will help up us to meet our ambitious target of 1,100 stores by the end of 2025.”
Among its requirements Lidl is looking for prominent locations with strong pedestrian and traffic flow with a size of 18,000 to 26,500 square feet and space for 100 plus car parking spaces.
For sites within London and the M25 it is looking for close proximity to public transport links and opportunities in shopping centres and retail parks as well as standalone stores.
People who successfully pitch a new location will be offered a fee of either 1.5 percent of the freehold purchase price or 10 percent of the first year’s rent for leaseholds, which the firm says would equal £22,500 for a completed £1.5 million site.
Lidl says it is interested in sites across the UK, ranging from Manchester and Birmingham to Swansea and Nottingham.
Discount chains such as Lidl and Aldi have increasingly grown market share as the rising cost of living leads to stiff competition between supermarkets to cut prices.
According to figures from market research group Kantar, Aldi and Lidl proved the fastest and second fastest growing retailers for the 12 weeks to 17 April with sales up 4.2 and four percent respectively.
This week Asda and Morrisons announced a raft of price cuts having seen their market share lose out to Lidl and Aldi.
Tesco meanwhile has been a notably competitive exception among the big four supermarkets, remaining able to increase its market share.
The firm has continued to maintain a price match with Aldi though it recently warned its profits would be squeezed this year as operating costs rise.
Fraser McKevitt, Head of Retail and Consumer Insight at Kantar, said: “With grocery price inflation at its highest level since 2011, shoppers are looking to retailers to help them cope with the rising cost of living.”