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Tesco's Growth from a Small Grocery Shop to a Global Retail Giant
- 1. TESCO
- 2. HISTORY • Founded in 1919 by Jack Kohen • Now largest retail shop.
- 4. INITIAL STATUS • Initially the company began selling surplus groceries . • On Kohen’s first day , he had sales of $6.40 and profit of $1.60.
- 6. AND NOW • Sales of $111 billion with a profit of $4.78 billion. • Employs more than 597,784 people and occupies 41 million square feet of selling space in 12 countries.
- 8. STORES • Stores are designed based on consumer’s needs. • Smallest floor plan-’Express’- <600Sq.ft-Food items • Largest floor plan-’Home Plus’- >50,000Sq.ft-Non-Food items.
- 10. VARIED PRODUCT LINE • The company expanded its range of products and services from simple grocery items to almost everything.
- 12. SUCCESS OVERSEAS • It has expanded overseas in 1995 adopting its strategies with slight modifications to suit to the other places.
- 13. BUILDING CUSTOMER LOYALTY • Identifying the customers based on the frequency of purchasing and value of expenditure.
- 14. Connecting with the customers • Creating a customer database. • Providing clubcards to customers.
- 15. Value to customers • Extra care is given to clubcard customers by offering vouchers , rebates. • At present, Tesco has more than 16 million cardholders. • Provided convenience to customers by facilitating with parking , apps for purchasing using clubcard , online purchasing facilities.
- 17. Managing the channels • It manages the pricing of the channels and builds customer loyalty.
- 18. • Involves in creating social awareness and events.
- 19. Summary • Tesco-A retail shop started as a grocer background. • Through its pricing and merchandising strategies , it has extended overseas. • Now , it is well known for a whole range of products under the same product line.
- 21. Sameer Mathur Indian Institute of Management, Lucknow Marketing Professor 2013 – Marketing Professor 2009 – 2013 Ph.D. and M.S. (Marketing) 2003 – 2009 M Darsini Meena, PSG COLLEGE OF TECHNOLOGY, COIMBATORE.