Marketing Analysis of Tesco PDF

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Marketing Analysis of Tesco

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Tesco is considered as UK’s top private employer to be the country’s largest that has over 330,000 people working in its over 3,146 stores. As a result, the company is frequently in the news, both for its successes and for its failures. The supermarket is also ranked as the 3rd largest store in the world and has an approximate value of 27 million or more people who hold its Tesco Clubcard holders outside UK alongside having its stores in 12 different countries. Recently the company made huge amounts of profits after profit surged due an increase in online shopping during the Covid-19 pandemic. In fiscal year 2020/2021, the retailer generated a total of 53 billion pounds in the UK and Ireland alone which was seen as an increase by 2 percent from the previous financial year(Blázquez, 2021). According toTesco, its overall sales climbed by slightly more than 7% to more than £53 billion in the year; towards the end of the second month, beating City experts' estimates. In the United Kingdom and Ireland, sales climbed by 8.8 percent. Despite the fact that profits were lowered to cover the costs of the Covid-19 outbreak, the store managed to improve sales overall. In order, to maintain a continued growth, the supermarkets should constantly plan for al eventualities as the will be patterns of the lockdown trend in the UK alongside Brexit which may most likely increase pressure in the supply channels to Ireland and within the republic as suggested by the supermarket’s Chief Executive Officer Ken Murphy, in his plans on preparing for the year ahead as he explains why the supermarket is having a positive growth from the previous two years. In conclusion, Tesco is UK largest retailer that has been able to made huge profits during the financial year 2020/2021 due to the increase in online shopping due to the Covid-19 pandemic. The retailer is advised to continually prepare for anything in order to maintain their positive trend.

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Reference Andrea Blázquez, (2021). Tesco group revenue in the United Kingdom (UK) 2015-2021, https://www.statista.com/statistics/490931/tesco-group-finance-revenue-united-kingdom-uk/ Joanna Partridge and Sarah Butler, (2021). Tesco profits fall as Covid costs offset sales surge, https://www.theguardian.com/business/2021/apr/14/tesco-profits-fall-as-covid-costsoffset-sales-surge Matt Barker, ( 2021). Tesco sees strong online growth but stresses need to ‘plan for all eventualities, https://www.marketingweek.com/tesco-sees-strong-online-growth-but-is-planningfor-all-eventualities/...