Tesco is one of the leading food retailers within the UK retail industry and is one of the largest food retailers in the world with its headquarters based in Chechens United Kingdom In 1919 Jack Cohen the founder of Tesco started selling groceries from his market stall in the East End of London. In 1929 the first Tesco store was opened by Mr Cohen in North London. The business has continued to grow and Tesco now operate in 12 different counties, employ more than 500,000 staff and cater for over 75 million shopping trips every week (http://www.tescoplc.com).
(http://www.thegrocer.co.uk) In recent years Tesco have moved away from being a primarily food retailer and have now started selling clothing, electrical goods, home ware, fuel, mobiles and broadband. They have further developed their own brands which now consist of Finest, Everyday Value, Chokablok and Technicika. The Finest and Everyday value ranges are now 2 of the largest food brands in the UK. In 1996 Tesco introduced their Club card scheme which is currently used by 38 million customers. It was introduced to give Tesco a view of consumer habits, trends and preferences and as way of a thank you from Tesco to their customers. Tesco bank was set up in 1997 which offers customers loans, credit cards, insurance and mortgages (http://www.tescobank.com).
Tesco’s main customers are the local community, families, single people, professionals and retired professionals. The Tesco customer is looking for value for money and a range of different products. Families and single people are looking for a low cost, value for money range and professionals and retired professionals are looking for a more upmarket range of products.
(Tesco Annual Report 2013) Tesco’s core purpose is “We make what matters, better together". This was changed from "To create value for customers to earn their lifetime loyalty" in 2013 as in recent years Tesco have felt that customers
Bibliography: A look at the history of Tesco available at http://www.meattradenewsdaily.co.uk (Accessed 13 October 2014) Details of the different offers Tesco Bank can give to their customers can be found at http://www.tescobank.com (Accessed 05 October 2014) Mintel Report (2004) Food Retailing November 2004 (Accessed 31 October 2014) News release 22 May 2014 - http://www.tescoplc.com (Accessed 31 October 2014) “Tesco Blunder Leads to £300K Fine - http://news.sky.com (Accessed 07 October 2014) Tesco History available at http://www.tescoplc.com (Accessed 05 October 2014) Tesco Annual Report 2013 (Accessed 13 October 2014) Tesco Annual Report 2012 (Accessed 13 October 2014) Tesco Careers available at http://www.tescoplc.com (Accessed 31 October 2014) “Tesco’s growing pains on the road to zero-carbon” - The Carbon Year Book, James Richens, September 2010 (Accessed 31 October 2014) “Tesco 's move to cut food waste is just a small step in the right direction” The Guardian, Mark Riley Cardwell, 21 October 2013 (Accessed 31 October 2014 Tesco PLC Annual Review and Summary Financial Statement 2012 (Accessed 31 October 2014) The Grocer http://www.thegrocer.co.uk – Tesco News (Accessed 03 October 2014)