Success does leave clues while failure provides valuable lessons Tesco has had both over the recent past successful companies learn grow from both success and failure. Tesco is about to embark on a Grocerant Niche repositioning that will become the platform for continued success.
Last week during a meeting with suppliers Tesco announced its new focus is on innovation that is going to be ‘bigger and bolder’. In an attempt to regain market share, elevate consumer relevance Tesco set new goals to move from 8% new product introduction to 20%.
More important the focus of the innovation is to highlight produce and convenience foods an even larger point of differentiation for Tesco. Striving for a qualitative advantage the produce and Ready-2-Eat and Heat-N-Eat fresh prepared convenience foods will have a halo of “better for you” around them.
This new focus on health and wellbeing will be complemented with new multi-channel growth including remodeling stores and with a “food first” Fresh Food Ready-2-Eat and Heat-N-Eat strategy. That will be complemented with introduction of 80 family dining areas (Restaurants) the ilk of Giraffe and Decks, and 50 Harris an Hoole coffee shops in select locations.
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