Aldi discount food store announced a $3.4 billion investment into 2,500 new store locations by 2022. According to Supermarket News, this would make Aldi the third largest grocery chain in the U.S. (in store count). Walmart and Kroger are the largest chains in the U.S. currently. This announcement comes a few moths after announcing a $1.6 billion renovation and remodeling of 1,300 stores.

“We pioneered a grocery model built around value, convenience, quality and selection and now ALDI is one of America’s favorite and fastest growing retailers,” Aldi CEO, Jason Hart, said in a news release.

The expansion has the potential to serve 100 million customers every month and create 25,000 new jobs, according to Aldi representatives.

Aldi is not the only discount store popping into the news lately. Lidl, Aldi’s German rival, implemented its first store in the U.S. this month. Lidl’s prices are an estimated 9% cheaper than Walmart’s low prices, 16% cheaper than Food Lion and about 3% cheaper than Aldi’s.

Lidl has more than low prices. Their low prices coupled with an innovative supermarket experience, premium shopping and customer service create an enhanced supermarket environment.

“The retailer seemed to steal certain aspects from various retailers, such as hints of Publix (employees were extremely friendly and even escorted the elderly around in wheelchairs), Costco (random sample stations, concrete floors, display cases on pallets and still in shipping packaging), and insert any specialty grocer name here (wood grain decor, vibrant signage, and a respectable bakery/ethnic/organic offering),” Jefferies analysts wrote.

Photo Courtesy of Jefferies