Gone are the days when going to the supermarket means that you’re going to solely buy food. You can go to the gym, sort out your travel, pet, house and car insurance, buy a new outfit and pick up tonight’s dinner just by going to the supermarket. Tesco stores are a prime example of these multi-faceted supermarkets, being one of the United Kingdom’s biggest supermarket chains. There are Tescos Stores in every town in England and most cases not only are there stores, there are petrol stations and other businesses within the Tescos business group.
It is amazing to think that the Tesco Stores that we see now (in 14 countries across Europe, Asia and North America) started from a set of market stalls in the East End of London just over 90 years ago. With his motto of YCDBSOYA: You Can’t Do Business Sitting on Your Arse, Sir Jack Cohen built solid foundations for his multi-billion-dollar company. Within the first 15 years, there were well over 100 stores across England.
Despite its enormous success, Tesco Stores have not been without its fair share of controversy over the years. The 1987 hostile take-over of other supermarkets in the North of England caused a very big stir at the time. However, with a cost of £220m (U.S $352m) all the noise quieted down quickly.
Other instances of controversy include Tesco’s 1994 acquisition of the William Low supermarket chain where it had to fight off competition from Sainsbury’s. Also the six-month fright with the letter-bomber who called himself ‘Sally’ and sent Tesco’s customers letter-bombs and demanded rigged loyalty cards that could later be used to withdraw money from cash machines. That was made possible after modification. In more recent years, the advertisement campaign for Tesco Stores which used the phrase, ‘Change for good’, came under protest from the children’s charity, Unicef, who trademarked the phrase which is not for commercial or retail use.
Despite these upsets, Tesco Stores continue to flourish, reporting an 8.8% rise in half-year Group sales for 2011 up to £35.5bn (U.S $56.8bn). Tesco Stores boast 6 store types which depend on size and the type of goods that it stocks. From largest to smallest, these include, Tesco Extra, Tesco Superstores, Tesco Metro, Tesco Express and One Stop.
With the constant and rapid growth of Tesco Stores, it is not difficult to see why it is a worldwide retail leader. And considering where Tesco Stores came from, there should be a general respect for the common market stall.