In the 1980s Tesco was the third-largest supermarket in the UK. Today it is the third-largest grocery chain in the world. How was it able to develop a winning formula and achieve global success?
At the start of the 1990s the UK grocery market was fairly clear cut. If you wanted quality and service you went to Sainsbury’s. If you wanted low prices and value you went to Asda. Tesco had alienated its customers for far too long. The market was becoming tougher, with the recession of the early 1990s and the expansion of budget German retailers Aldi and Lidl into the UK. Tesco was in danger of becoming a classic middle-market casualty, as has been seen over the years with Rover and Comet.
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