Tesco is a popular and major British retailer and is third in the world for a grocery retailer. It has various outlets across the USA, Asia, and Europe. Tesco initiated as a one-man business during the year 1919, Jack Cohen, by selling groceries from a store in London.
From his profit on day one, he got excess stocks of tea from a company named T. E. Stockwell. Both, T. E. Stockwell and Cohen joined together and united to brand a tea and that was the original team sold by Tesco. During the year 1929, Tesco started its first store in North London. Even since, Tesco has been in the rise by a combination of various retail services, acquiring new stores, and by adjusting to customer requirements.
The main aim of the company is to serve the customer. The company focus to keep the customers happy as they are likely to relate to the brand again and again. This would be more cost-effective for the business instead of getting new customers.
In the United Kingdom, Tesco has about 2,200 stores that range from big hypermarket kind of stores to small outlets. Tesco has expanded from grocery and general products to banking, electrical goods, insurance services, and telephone equipment. They have adopted one-stop-shopping concept meaning that customers can purchase all the shopping requirements from one place. Also, Tesco has increased its customer’s through their website Tesco.com that attracts almost one million users.
The SWOT analysis of Tesco differentiates all the main strengths, weaknesses, opportunities, and threats of the company. It gives the brand a chance to investigate it and analyze the ways as to how to perform better. Go through this article to know where Tesco stands.
To make sure that Tesco meets the long-term competitive advantage it must address the various concerns highlighted in the SWOT analysis of Tesco.
Let us discuss on the SWOT analysis of Tesco.