Current Trends in Supermarket Sector and Performance Analysis of Tesco
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This presentation discusses the current trends in the supermarket sector, the performance analysis of Tesco since October 2015, the financial position of Aldi and Lidl, SWOT analysis on Tesco, and recommendations to regain market share and improve profit performance. The presentation also includes references for further reading.
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Table of contents INTRODUCTION Current trends in supermarket sector Performance of Tesco since October 2015 Current financial position of Aldi and Lidl SWOT analysis on Tesco Recommendations to regain market share and improve profit performance CONCLUSION REFERNCES
INTRODUCTION Tescoisapubliclimited company which was founded in the year 1919. It is a retail industry providing goodqualityproductsto customers.
Current trends in supermarket sector There are current trends in supermarket sector like, attend to growing culture of immediacy, digital mobile wallet, adapting newtechnologyformarketingsothat morepeoplecanbeattracted,retail operations and business transactions. Retail industry is using social media for marketingandpromotionofproducts (Nash, 2019).
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Performance of Tesco since October 2015 In 2015, Tesco sold Blinkbox Music streaming service and after that they make changes in plans and provide good services to customers so that more profit can be generated. In 2017, Tesco has reached an agreement to merge with Britain’s biggest wholesaler. The company was earning more profit and they are providing good quality products and services to customers so that their needs are satisfied.
Current financial position of Aldi and Lidl Current financial position of Aldi is its sales is increased by 1.5 percent as compare to corresponding year. It was noticed that the percentage growth was higher in last few months as compare to present situation. Aldi is now Britain’s fifth largest supermarket group. Financial position of Lidl in the year 2020 was 6885 million British pound turnover.
SWOT analysis on Tesco Strength- strength of Tesco company is it is the biggest grocery retailer in UK, has leading market share, growing number of stores, diversified stores, diversified market and product range, efficient supply chain network (GURL, 2017). Weakens- Tesco has poor operational performance in specific markets. Financial errors. Decrease in operating profit. Low cost strategy.
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Recommendations to regain market share and improve profit performance Managers should expand market by satisfying need of people. Innovative and creative products should be made to attract customers. Increased quality of product so that more profit can be earned. Strengthening customer relationship increases profit. It is essential to satisfy need of people so that more revenue can be generated.
CONCLUSION From the above discussion it can be concluded that, there are current trend sin supermarket sector and Tesco is providing good product to customer. Financial position of Aldi and Lidl, SWOT analysis has been discussed.
REFERNCES GURL, E., 2017. SWOT analysis: A theoretical review. Nash,J.,2019.Exploringhowsocialmediaplatformsinfluencefashionconsumer decisions in the UK retail sector.Journal of Fashion Marketing and Management: An International Journal. Thota, V. K., 2021. Emergence of organized retail sector india-key issues and challenges of retail sector: A study.Asian Journal Of Multidimensional Research.10(6). pp.277-281.
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