Tesco domination
Not satisfied with being the largest gocery retailer Tesco now have plans to dominate the non-food shopping market.
"Britain's biggest food seller, Tesco, will become the UK's largest non-food retailer by the end of the year as it expands its offering via bigger stores and the internet, according to a new report.
Retailing research group Verdict said that Tesco's share of the non-food market this year was forecast to climb to 3.6 per cent from 3.2 per cent last year. This would push it ahead of Argos Retail Group, owner of Argos and Homebase, which Verdict forecasts to have a 3.5 per cent market share this year versus last year's market-leading 3.3 per cent."
"Tesco's finance director Andrew Higginson said non-food retail was an attractive and growing area for the company. 'Our non-food business, which we still describe rightly as small, growing and a big growth opportunity, is now seven billion pounds in turnover in the UK. It is less than seven per cent market share which why we talk about it as such an opportunity to grow,' he told Reuters."
If you thought it was only the butcher and baker who had to watch out, then think again!
"Britain's biggest food seller, Tesco, will become the UK's largest non-food retailer by the end of the year as it expands its offering via bigger stores and the internet, according to a new report.
Retailing research group Verdict said that Tesco's share of the non-food market this year was forecast to climb to 3.6 per cent from 3.2 per cent last year. This would push it ahead of Argos Retail Group, owner of Argos and Homebase, which Verdict forecasts to have a 3.5 per cent market share this year versus last year's market-leading 3.3 per cent."
"Tesco's finance director Andrew Higginson said non-food retail was an attractive and growing area for the company. 'Our non-food business, which we still describe rightly as small, growing and a big growth opportunity, is now seven billion pounds in turnover in the UK. It is less than seven per cent market share which why we talk about it as such an opportunity to grow,' he told Reuters."
If you thought it was only the butcher and baker who had to watch out, then think again!
posted by tescno at
9:16 am
