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level 2 btec business unit 1 d1
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Eric Asare d1Introduction about Tesco
Tesco is the biggest private sector employer in the UK, it’s approximately the
third largest retailers in the world due to their profits and they are also the
second largest retailers in the world due to the revenues. Tesco has more than
360,000 employees and many stores based in around 12 countries throughout
Asia, Europe, North America, the Republic of Ireland, Malaysia and Thailand. In
the UK alone, Tesco has different ranges of stores from small local Tesco Express
sites to large Tesco Extras and superstores. Around 86% of all sales are from the
UK because Tesco has at least a store in every local area which tends to be the
number first shopping destination for families.
How Tesco started.
In 1919 was when the life of Tesco began. This all happened when a man named
Jack Cohen, the son of Jewish Immigrants from Poland started selling groceries
from a stall in the East End of London. On his first ever day Mr Cohen made a
profit of £1 from sales of £4.
Latter on the years the Tesco brand made it first appearance in 1924 five years
since Jack Cohen started selling groceries from a stall in the East End of London.
The Tesco band appeared because Cohen bought a shipment of tea from a Mr T.
E Stockwell, using Thomas Edwards Stockwell’s initials TES, he found the first
three letters, and the CO came about using the two letters from his own
surname, forming the name TESCO then latter on Mr Cohen found himself
opening a flagship Tesco store in Burnt Oak at the North London.
Key changes to retail.
> Self service
> Out of town shopping
> Loyalty cards
> Online shopping
> Local shops e.g. Tesco Express.
How Tesco have needed to change to survive.
The first change Tesco had to make was to create a website because every
business has a website and because most retailers had a websites all ready and
where making a lot of profit from it Tesco had to create a website as well to gain
more profit as well.
The second change Tesco had to make was because most of the customers that
come to Tesco stores drive there, Tesco sow this as an opt unity to gain more
profit plus it enables customers to get gas and even again shop.
The third change Tesco had to make was to create Loyalty cards because Tesco
thought this was a way to get customers coming back because it was beneficial
to both Tesco and customers. The reason why the Tesco club card has been
beneficial to customers is because if customers reach 150 point then they will
start to receive to vouchers or even win gifts such as Iphone, Ipad, Playstation 4
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