Fierce Competition: The Need For Fresh Ideas

CANARY WHARF, U.K. - Sept. 25, 2014 - PRLog -- The news has shown that the troubles are mounting up for giant supermarket Tesco.

With stagnant sales, falling profits, boardroom turmoil, there is now a £250 million hole in its profit forecast. This has left shoppers and investors’ questioning what was until recently the undisputed king of UK retailing what has happened to its continual innovation?

PureAtlantic looks into the history of Tesco and how it has avoided the same trap as Tesco.

So where did it all go wrong?

From a humble beginning, Tesco began selling army surplus food in the aftermath of the First World War. It was not until the 1990’s when everything really began to take effect. Tesco was one of the first major retailers to kick start the loyalty cards; boosting sales through discounts and using customer data to help tailor customers experience. Tesco had become a blueprint for its reward schemes.

With growth continuing with smaller express stores being introduced, Tesco was becoming the supermarket giant that everyone was running to. Tesco marketing was clear and compelling.

The growth in Sainsburys in the 1990’s was not an issue at first. However, 2006 was a different story where Tesco share of the market fell by a third. With new stores rapidly opening with an overseas expansion plan, it seemed there was no stopping this supermarket giant.

However, 2014 has shown that Tesco is in desperate need for fresh ideas to keep them ahead of the huge competition they are facing. Sales have been stagnant while tax profits have fallen significantly.

The financial crisis and recession lead consumers to turn to discount chains such as German stores Aldi and Lidl. This has led to the expense of the UK stores – primarily Tesco. At the same time, consumer’s attitudes were changing to home delivery with less need to visit the supermarkets.

Tesco began to get complacent, getting arrogant about their position, lost customer focus and stopped innovating. Because they were too focused on profit, they stopped on investing in stores and customer service, and this has all become too obvious on the shop floor.

Their overseas project such as Fresh and Easy in the US failed in getting into the lucrative market. This shows that Tesco has lost their way and no one knows what the company stands for.

So what has Pure Atlantic done to avoid the same situation as Tesco?

PureAtlantic is continuously growing and always has innovative ideas to stay ahead of their competitors. Rather than following the trend and doing the same as everyone else, PureAtlantic aims to gain different clients and products to keep the target audience interested. Innovative ideas never run short at PureAtlantic. There is continuous growth so PureAtlantic has fresh talent and ideas coming in the whole time. With this, it develops the business even more, also giving real life business experience to individuals too which helps them to progress.

Attitude plays a major part in order to succeed at PureAtlantic. Having a positive attitude and seeing the light at the end of the tunnel is what pushes individuals to work harder and to reach their lifelong goals faster. There is no time to get comfortable with what is around as this is what makes you fall behind, particularly with the amount of competition in the world. PureAtlantic always looks for gaps in the market that no one has touched on yet. This allows the growth. This includes international projects which are underway at the moment.