"Whether it is a Clubcard, mobile phone or just a receipt from one of its 3,000 stores, the UK's biggest retailer is engrained in everyday British life. As its chief executive, Ken Murphy, proudly proclaimed this month, the supermarket chain has grabbed even more of our spending this year, landing almost a third of all grocery sales and receiving more than 1 in every 10 spent in UK retail."
"'Every little helps' The term Tescopoly was first coined in the noughties, when concerns about the retailer and it supermarket peers putting local high street shops out of business were at their height. Regulators allowed Tesco, then led by Sir Terry Leahy, to buy up the 860-store convenience chain T&S Stores in 2002, and it later marched into selling electrical goods, homewares and clothing in its out of town Homeplus stores from 2005."
Tesco is deeply embedded in British daily life through Clubcard, mobile services, receipts and some 3,000 stores. The supermarket chain has increased its share of consumer spending, landing almost a third of grocery sales and more than one in every ten pounds spent in UK retail, with sales growth outgunning traditional rivals. The resurgence follows a period when overseas expansion and an emphasis on profits over service stalled growth, culminating in a damaging 2014 accounting scandal that raised regulatory and political concerns about dominance. Earlier moves included convenience-store acquisitions, homewares and electrical ranges, a banking venture and a mobile tie-up, alongside large out-of-town superstores and supplier-pressure allegations. The retailer is now quietly reasserting a strong market position in a less visible manner.
Read at www.theguardian.com
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