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Tesco: Britain's Grocery Market Leader
Tesco is a British multinational corporation that retails in groceries and general merchandise and has numerous supermarkets throughout the United Kingdom. It is the market leader in groceries in the UK and also has establishments in several countries worldwide. Some of their most popular picks among shoppers include fruit, vegetables, snacks, drinks, alcoholic beverages, frozen food, convenience meals, and many other everyday items that fill our cupboards, fridges, and freezers. They also sell electrical goods and some clothing items.
The establishment continues to grow rapidly on a global scale and has over 345,000 employees operating in over 4,500 shops.
They have opened shops of varying sizes to suit the requirements of different localities. Extra shops are the largest of the company’s formats and usually stock all of the establishment’s available products. The largest Extra is in Walkden, Salford. These branches typically have opening times of 24/7, though this can vary depending on store locations and will be modified on Sundays owing to trading regulations.
Superstores are the standard supermarkets, usually offering groceries and a small range of non-food items. A lot of these branches also have in-shop cafés and restaurants. The general opening times of their superstores differ per location, but they are generally open from either 6 am to midnight, or 7 am to 11 pm.
Express shops are smaller stores of around 200 square metres that act as neighbourhood convenience outlets. These shops focus on selling high-end products and generally only stock food items. Express opening times are generally from 7 am to 11 pm but, as with their other brands, this can fluctuate depending on your location.
Tesco Opening times across all branches may change on bank holidays, Easter Monday, Good Friday, Christmas, Boxing Day, and New Year’s Day. To find the opening times of branches in your area, use our branch locator tool to get accurate opening times information.
As the largest grocery retailer in the United Kingdom and one of the leading corporations worldwide, it is a household name that almost everybody will have been a customer of at some point in their lives. Yet, here are five things you didn’t know:
- The company headquarters are located in Welwyn Garden City, Hertfordshire.
- In terms of gross revenues, it is among the top retailers in the world.
- The name Tesco comes from a shipment of tea that founder Jack Cohen purchased in 1924. The tea shipment was from T.E. Stockwell, and Cohen combined the initials of this with the first two letters of his surname.
- The first shop was opened in Barnet, in 1931.
- The company pulled its operations out of the USA in 2013 after an unsuccessful venture into the US market.
Although originally a UK grocery retailer, the establishment has since diversified into various marketplaces and has interests in the following areas:
- Clothing
- Books
- Financial services
- Telecoms
- Petrol
- Furniture
- Electronics
- Toys
- Software
- Internet services
The grocery market still remains the company’s main aspect of business, and they provide goods in fresh food, frozen food, household items, pet products, baby products, bakery, dried food, and health and beauty.
The company was long focused on high-volume, low-cost purchases to appeal to a specific audience, but has since shifted its position to target all social groups. They offer product ranges scaling from their value range, which offers affordable products with minimal advertising, to "Finest," which provides luxury items at a higher cost. They have a customer loyalty Clubcard which gives savings on every purchase. These are in the forms of vouchers that can be spent in-store, or sometimes for activities and experiences with other companies. They also have a Christmas Club scheme whereby the vouchers can be saved until November/December and then used all at once on a larger shopping visit.
It was initially set up by Jack Cohen in 1919 and has grown from a small group of market stalls in Hackney, London, to become one of the largest retailers in the world, with shops in over 10 different countries. The business expanded rapidly since the 1931 opening of the first shop in Burnt Oak, Barnet, and had grown to over 100 branches eight years later, in 1939. The 1950s and 1960s saw steady growth of the company, and through numerous acquisitions they grew in scale to more than 800 shops. Founder Jack Cohen’s motto was “pile it high and sell it cheap”; however, he also had a separate motivational motto for his sales force of “YCDBSOYA,” an acronym for “you can’t do business sitting on your arse”.
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