Tesco is a well-known retail supermarket in the UK as well as almost in the world as it has become the third largest retailer in the world. It has stores 12 countries across Europe, Asia, and North America.
Retailing is really a competitive industry as the competitors are in all over the world, such as ASDA, ICELAND, Sainsbury’s, Waitrose, German Aldi, US Warmart, and many other local retailers. The success is the effective leadership and management. Tesco’s leaders have always set high satndards and clear goals, never setting anything less than the best (The times 100). As a global company, Tesco always looks at and respects the strengths from other competitors and tries to learn and bring them on board as quick as they can to become they own strengths. ...view middle of the document...
In turn, it keeps customers satisfied with their shopping experience and loyal.
Loyalty is what benefit do you create for somebody and in return for the benefit hey will repay you with the loyalty you engage with them. Most of them it matters with customers but also matter with other stakeholders like employees, shareholders and suppliers. As an employer, if you create something well worthy for them, they will reward you. Tesco started holding annual values award ceremony since 2010 to celebrate and award employees who go the extra mile and truly live its values. Tesco offers its customers with Tesco club card, which helps in maintaining and holding customers from moving to its rivals.
As a global retailer, Tesco aims to find out the local tastes of consumers and provides the offers and services completely to the local customers in order to involve itself into the local market. Just as what Tesco did in the US, Tesco opened the ‘Fresh N Easy’ chain, which was designed completely for the US consumers. In South Korea, Tesco changed its name to ‘Home plus’ and it grew to the second largest retailer in South Korea.
Mobile virtual store
Tesco launched the world’s first virtual stores in subway stations and bus stops in South Korea in order to become NO.1 without increasing the number of stores. The displays are exactly the same as actual stores with only one thing is different that you have to use smart phones to shop. After shopping is done on the mobiles, it will be delivered right after to customers’ home or anywhere they would like it to be delivered to. After this champion, online sales increased 130%. Tesco has set up the first virtual supermarket screens at Gatwick airport so that customers can shop with their smart phones as they wait to fly.