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Tesco - Sit up and listen





Now I am coming off IT/Cyber Security news for a moment to quickly discuss my thoughts around Tesco's recent reported huge loss in profits - http://www.bbc.co.uk/news/business-32408661 

Tesco has reported the worst results in its history with a record statutory pre-tax loss of £6.4bn for the year to the end of February.

 Let me start this article/blog by saying, I am no writer and admittedly my grammar is terrible but I will swallow my pride and type away to my hearts content. This is a small piece that doesn't cover everything just thoughts.

 Taking a step back a moment: I spent my time at University studying Business and Marketing and I don't claim to be a genius in my field but after watching a BBC report on the recent news made by Tesco, I was dumbfounded to find out Tesco's first grocery store opened nearly 100 years ago. 

 In the ongoing 'Store wars' with rivals such as Lidl, Aldi, Asda, Morrisons, Sainsburys etc. Tesco's seem to have not reacted to the times and fundamentally listening to it's customers wants and needs. 

 I have to admit; as a teenager, I spent three years being a 'Dairy fairy' and a 'Cashier queen' at a Tesco store in my home town of Clevedon. My Saturday shifts and evening work, was fun; I made some good friends and essentially it made me earn and learn about money. Somehow I feel attached to the chain and the hope that it will see the error of it's ways. The harsh reality is; I don't shop at Tesco's. I don't live by one and realistically I like shopping in Aldi and Morrison's. I am not loyal or emotionally attached to either store but I do get the best of both worlds by venturing out to Aldi to get a taste and feel of Europe and having my purse strings in tact. On the other hand; Morrison's where I am still able to keep my finances in check but also get the feeling that a) they listen to their customers, by slashing costs and keeping it that way and b) it looks and feels (in my mind) what a store should be: Good customer service, the employees dress in a conventional; green and white stripped uniform and in my case central locations.

 Opinion: Consumer behaviours are changing. Most customers nowadays don't feel obliged to feel loyal to a store. they are looking for the best for their money and if the location fits into their normal daily routine. 

 Tesco's - You were founded in 1919, from a group of Market stores, then you went on open your first store in 1924 (thanks Wiki). My advice: Go back to basics, interact (more) with community's, make the stores show your legacy by changing the look and feel. Stop going on about BOGOFF, slashing costs for one week and not the next (your not alone on that) but bring the British public back to what stores were made for.

 I could carry this on but got to get back to the day job - However happy to debate and get people's thoughts on the matter.
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