Tesco Analysis
History
Tesco was founded about 1919 by a person call Jack Cohen in London's East End. In this year as well he Jack Cohren started was selling groceries in the markets of the East End. After about 5 years the name TESCO started to appear on labels because Jack Cohen brought a large shipment of tea from a company called T.E. Stockwell. Due to this he put the first two letters of the supplier of tea along with the first two letters of his surname and this spelt out TESCO. The first Tesco store opened in 1929 and now it has 1,800 stores just in the UK and its present felt in 12 countries.
Tesco now is the largest British retailer, both by global sales and by domestic market share, and the fourth largest retailer in the world behind Wal-Mart of the United States, Carrefour of France, and The Home Depot of the United States. Tesco used to only sell food but now it has moved into areas such as clothes, consumer electronics, consumer financial services, selling and renting DVDs, compact discs and music downloads, internet service and consumer telecoms.
Introduction
Tesco over the years is UK's most popular retailer with over 13 million customers a week, number of non - food products/services available has gradually increased, Tesco.com is the world largest home delivery service in the world and it is operating in 12 different countries with further expansion in other countries. The reason for all these success mentioned above is all down to one thing, which is the approach taken by Tesco on customer focused. Tesco is unique in this way because many retailers would tend to focus only on profits. However, Tesco as well as making profits would like to "create value for customers, to earn their lifetime loyalty". ( Tesco Interim report, 2005) This can be seen in Tesco mission statement and the way this is achieved is through corporate strategy. The corporate strategy of this retailer consist of four parts; UK Core Business, Retail Services, Non-Food and
Tesco was founded about 1919 by a person call Jack Cohen in London's East End. In this year as well he Jack Cohren started was selling groceries in the markets of the East End. After about 5 years the name TESCO started to appear on labels because Jack Cohen brought a large shipment of tea from a company called T.E. Stockwell. Due to this he put the first two letters of the supplier of tea along with the first two letters of his surname and this spelt out TESCO. The first Tesco store opened in 1929 and now it has 1,800 stores just in the UK and its present felt in 12 countries.
Tesco now is the largest British retailer, both by global sales and by domestic market share, and the fourth largest retailer in the world behind Wal-Mart of the United States, Carrefour of France, and The Home Depot of the United States. Tesco used to only sell food but now it has moved into areas such as clothes, consumer electronics, consumer financial services, selling and renting DVDs, compact discs and music downloads, internet service and consumer telecoms.
Introduction
Tesco over the years is UK's most popular retailer with over 13 million customers a week, number of non - food products/services available has gradually increased, Tesco.com is the world largest home delivery service in the world and it is operating in 12 different countries with further expansion in other countries. The reason for all these success mentioned above is all down to one thing, which is the approach taken by Tesco on customer focused. Tesco is unique in this way because many retailers would tend to focus only on profits. However, Tesco as well as making profits would like to "create value for customers, to earn their lifetime loyalty". ( Tesco Interim report, 2005) This can be seen in Tesco mission statement and the way this is achieved is through corporate strategy. The corporate strategy of this retailer consist of four parts; UK Core Business, Retail Services, Non-Food and