Aldi Bets $9 Billion on Cracking Urban U.S. Grocery Market

German discounter targets hubs like Manhattan with rock-bottom prices, including $4 almond butter

German discount grocer Aldi is pushing deeper into the United States with a $9 billion expansion targeting urban hubs such as Manhattan, betting that steep discounts — including $4 almond butter — can pull shoppers away from established chains, the BBC reported.

The push represents a significant wager on Aldi's no-frills discount model in some of the country's most competitive retail markets, where it faces off against giants including Walmart.

The chain's strategy of undercutting rivals on price for staple goods has fueled its growth in Europe for decades, and the BBC reported the company is now testing whether that formula can translate to dense American cities.

— Compiled from reporting by the BBC.