A new budget supermarket chain that will rival stores like Aldi, ASDA, Tesco, Morrisons, Sainsbury's and Lidl is set to open in the UK.

According to reports, the chain could be as much as 30 percent cheaper than budget retailers like Aldi and Lidl.

Mere was founded as Svetofor in Siberia in 2009 and already opened four stores in Preston, Castleford, Mold and Caldicot.

But according to the Grocer, plans to step up store openings in this country are beginning to take shape.

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Speaking to The Grocer earlier this month, Mere’s head of UK buying Pavels Antonovs claimed the supermarket would be 30 percent cheaper than rivals.

He said: “We are the gap in the market. We don’t have any competitors.

"Our model is no service and no marketing."

According to Birmingham Live, the Russian chain is said to have 3,200 stores around the world.

Mere compares itself to Costco, but with no membership fee and no in-store service.

Each UK store will reportedly be about 10,000 square feet and have just eight workers.

The shops are also said to include a walk-in chiller room and freezer,and items are typically sold directly from the pallets they're delivered on.

The supermarket buys stock from suppliers on a "sale or return basis", which means it'll return any unsold goods to the seller.