Wednesday, 21 November, 2018

Tesco launches discounter rival with new brand Jack's

Syndicate Post image Customers shop in Tesco’s new Jack’s store in Chatteris Cambridgeshire
Jean Garcia | 22 September, 2018, 21:56

As part of a series of initiatives to pay tribute to Tesco's centenary, Jack's will reflect the values of its founder, who began what is now a major United Kingdom supermarket chain with a simple, no-frills approach to those people in need.

Tesco said eight out of every 10 products in Jack's will be produced in Britain. Other initiatives that mirror this are Operations Checkout, a price-cut plan in an attempt to boost sales which was launched in 1977 by former Tesco UK chief executive Ian MacLaurin; Tesco Clubcard, introduced in 1995, where shoppers receive points based on the amount spent, as well as Tesco Mobile and Bank, a way for customers to manage their accounts, and spending.

It will operate a "low-cost business model" created to keep costs low and prices down.

"Hoping to capitalise on the desire from consumers for cheaper produce and greater convenience, mainstream retailers have been battling for this extra market share since German chains Lidl and Aldi's popularity has continued to soar".

Jack's stores will sell 2,600 products, compared to 35,000 in Tesco, with a total of 1,800 own-branded products.

Shoppers in the new Jack's store in Chatteris.

.

The move is likely to have been tipped by Tesco's purchase of wholesaler Booker and its "strategic alliance" with France's Carrefour - both aimed at bringing down costs and driving value for customers.

Data group Euromonitor International noted in a recent report that the German "discounters continue to shape the direction" of the United Kingdom grocery market.

Tesco unveils new Jack’s concept
Delia Fernandez who queued from 3am for the opening

Tesco is Britain's biggest chain with a 27.4% share, according to the latest industry data, although it could be overtaken by Sainsbury's proposed £7.3bn takeover of Asda.

But the data, covering the 12 weeks to September 9, showed Tesco's slice of the overall action was 0.5% down on the same period past year.

Together Aldi and Lidl have a combined 13.1% market share in Britain, chipping away at market leader Tesco and its three biggest rivals Sainsbury's, Asda and Morrisons.

The flag-waving also lets Tesco contrast its United Kingdom roots with the German ownership of Lidl and Aldi, at a time when Brexit has heightened some Britons' awareness of nationality.

He added: "Worth remembering this is also to do with boosting a number of poor-performing stores rather than shuttering them - not sure if this really will result in a significant recapturing of market share from discounters".

A second mothballed store will become a Jack's, it said, while five existing Tesco shops will be changed to the format. He's an inspiration for all of us and that same spirit still drives Tesco now.

The Jack's brand is named in honour of Tesco founder Jack Cohen and forms part of the supermarket giant's centenary celebrations. They have lowered prices and improved service, but analysts say that with Aldi and Lidl growing at 10% a year it makes sense for Tesco to try to capture some of that growth.

Mr Lewis said that beyond the initial 15 stores, there is "optionality" for further outlets but it is "not a calculation we're now making".

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He's really ready to work for the team in these moments. The start was good for the team and also him as well. We constantly have to deal with new situations.

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