CEO: Future of Tesco is Bricks & Clicks
New Tesco CEO Philip Clark has a vision of the future for the world’s third largest retailer and it involves a solid dose of clicks to go with all those bricks the company has thrown up in markets around the globe.
"Successful retailers need to be multi-channel retailers," Mr. Clarke told the audience at the British Retail Consortium symposium in London this week. "We cannot differentiate between online and in-store. Our online offer has to be at least as good, if not better than, that which we offer on the high street."
Mr. Clark said Tesco plans to more than double the number of stores offering its Click & Collect service on non-foods. By the end of this year, the retailer plans to have 600 stores offering the service that enables consumers to order products online and then pick them up in stores. New locations offering Click & Collect will include stores in Bangkok, Bratislava, Budapest, Kuala Lumpur and Shanghai. According to The Guardian, Tesco plans to eventually add food to the service, but has not set a date.
Tesco, which operates stores in 14 countries, offers online shopping in Ireland and South Korea in addition to its home market in the U.K.
- Tesco to Expand Click & Collect as Clarke Ramps Up Online Offer – Bloomberg News
- Tesco boss: internet sales and stores can work together – The Guardian
Discussion Questions: What do you think the future of multi-channel retailing will look like? Which channel (stores, online, mobile, social or other) will be most crucial to retail growth in the years to come?