Tesco Company: A Strategic Analysis 2023
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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In this report, we examine Tesco’s strategic analysis and try to understand which activities have helped the company maintain market leadership in UK food retailing since 1995. This analysis highlights the company’s strengths, weaknesses, threats, business values, and major competitors in the UK.
Tesco is among the largest retail companies in Europe serving 345,000 people with reasonably priced, healthy, and sustainable food via its stores and those online with an intention of improving the people’s standards of living. The company operates through the UK, ROI, Central Europe, Asia, and the Tesco Bank. Tesco has a total of 4,752 stores in the market in the areas of the UK, Ireland, Czech Republic, Slovakia, and Hungary.
This report provides a general overview of Tesco's supermarket company such as its history, business model, strategy, key performance indicators, and the company’s corporate governance. The supermarket giant has been successful for a long time because of its well-established and consistent strategy which has helped it overcome many hurdles and challenges over the years. The Tesco Group is also made up of Tesco Bank, Tesco Mobile, One Stop convenience stores, food and drink wholesaler Booker, and data-science business Dunnhumby.
An internal and external analysis of Tesco and its business environment in the UK and Europe since 2020 reveals a number of challenging trends and issues that the giant needs to address in order to needed to become a leaner and more efficient organization that can compete against rivals. Some of the recent macro and micro challenges include increasing competition from online retailers and discounters, such as Amazon and Aldi, and high inflation, among others.
The report used a number of strategic tools including PESTLE, Porter's five forces, SWOT, VRIO, and the Value chain to examine the company’s internal and external environment. The report analyzes the company’s strategic positioning in the market and how it can be strengthened.
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Tesco Company: A Strategic Analysis 2023 Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Use strategic tools such as PESTLE, SWOT, Porters Five Forces, and VRIO to analyze a company's strategic position in the market and strategize on how to strengthen it
- Understand the broad macro-environment and how it affects the growth and performance of Tesco Company
- Understand how a company can use its resources and capabilities to strengthen its position in the market
1.0 INTRODUCTION
Tesco Plc. is a multinational grocery retailer serving customers with not only healthy sustainable food but also non-food products. Currently, the company has 4,752 stores spread across the UK, Ireland, Slovakia, Czech Republic, and Hungary. As of 2022, the company’s revenue was £61,344m. Tesco Plc. was established by Jack Cohen in 1919. It currently provides online retailing, brick-and-mortar supermarkets, and a private-label brand of products. The supermarket giant has had a consistent market share of 27% over the years and it is categorized as one of the Big Four supermarkets along with Asda, Sainsbury's, and Morrisons. The company’s mission is to be the champion for customers, helping them to enjoy a better quality of life and an easier way of living. This report is going to analyze Tesco’s vision, mission, business model, and current strategic objectives and how they affect its strategic direction.
Tesco reported strong growth in sales and profits for the year ending February 2023, despite the challenges posed by the COVID-19 pandemic and the Brexit transition. As of February 2023, the company had a revenue of £65,762m which is a 7.2% increase from the previous year. As of April 2023, the company had a market share of 41.9%.
This report uses the case study of Tesco Plc. to examine the macro and micro environmental changes in its markets. Using frameworks such as PESTLE, SWOT, Porters Five Forces, VRIO, and generic competitive strategies, the report will undertake a strategic overview of Tesco Plc., including its financial performance, competitive microenvironment, competitive advantage, technological improvement, pricing strategy, among so many others.
Key questions to answer include; what is Tesco's current strategy? What are the strengths of Tesco Plc.? What are its weaknesses? What is the Pestle of Tesco Plc.? Who are its competitors? What is the company’s competitive strategy?
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