Table of ContentsHistory of TescoPolitical FactorsEconomic FactorsSocial FactorsTechnological FactorsEnvironmental FactorsLegal FactorsTesco Marketing StrategySocial Media MarketingTesco is one of the third largest retail sectors in the world in terms of profits. Which was discovered by Jack Cohen in 1919? The first ever Tesco store was opened in Burnt Oak, Edgware, north London. Tesco is known as the market leader in grocery shopping in Hungary, Ireland, Thailand and the United Kingdom. They have 6,500 stores worldwide and 460,000 employees worldwide. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay The History of Tesco In 1929, Jack Cohen opened the very first Tesco store in Burnt Oak, Edgware, north London. The store sold its very first product, Tesco tea. Later in 1934, Jack Cohen decided to build a new head office and warehouse and therefore purchased new land in Angel Road, Edmonton, north London. They were known for being the first modern food warehouse in the country and introduced new ideas in inventory control. Just after a year, Jack Cohen saw a gradual expansion of the company by purchasing the stores in the growing London suburbs. They were floated on the stock market at a price of 25 pence. Later, in 1948, after a research trip to North America, Jack decided to venture into self-service. The very first self-store was opened in St Albans, Hertfordshire, in 1948. Initially, customer reaction was mixed. Between 1955 and 1969, more than 500 new stores were purchased and the first supermarket was opened in Melon, Essex. The store had counter service that sold meats, cheese and butter that were weighed by salespeople. Earlier, they also started selling homewares and clothing in their stores across the UK. One of the tactics used by Tesco was the use of green stamps. These stamps can be collected at the checkouts. These stamps can be collected and used to purchase certain products featured in catalogs. in 1973 they opened a new head office in Cheshunt, called New Tesco House and in the same year their first service station was opened in major cities across the UK. After four years, Green Shield stamps were phased out and a new price reduction initiative was introduced, called 'checkout at Tesco'. Tesco founder Jack Cohen died in 1979. Computerized checkouts were first introduced at Tesco. Tesco has also been involved in charity work. They raised a huge sum of two million pounds in 1989 for the large Ormond Street Hospital thanks to staff who worked at Tesco. They supplied computers to schools and raised £185 million worth of equipment for schools across the UK. One of Tesco's first metropolitan stores was opened in Covent Garden. It was 10,000 square feet and offered products tailored to the local market, primarily focused on lunch snacks. Earlier in 1994, the first two Tesco Express stores were opened in London within a short period of time. 18 more were opened. Just after a year, Tesco launched another tactic: the club card. By launching the club card, they were able to attract more than 5 million customers in the first year. After the successful introduction of the club card, they were able to overtake Sainsbury's in the market. share.In 1996, they started trading 24 hours a day to help their customers buy things when theywished. In the same year, they also entered the Slovak market through the acquisition of the seven K-Mart department stores. To do something different, they got into personal finance. The new savings account exceeded all expectations and more than 300,000 applications were received. In 1997, Tesco entered Poland and Ireland. And just after a year, they also entered Thailand under the Tesco Lotus brand. In 1999, Tesco began selling mobile phones and quickly became the largest retailer of prepaid mobile phones. Tesco's biggest breakthrough happened when they decided to launch their online service known as tesco.com in 2000, they were serving over 500,000 customers every week. They entered the Turkish market in 2003 through the acquisition of five Kiap stores and the same year they made their grand entry into Japan. The world's first ever zero carbon supermarket has been launched by Tesco in Cambridgeshire. In 2011, Philip Clarke took over as CEO. Tesco has also been successful in many other areas, such as banking, charity, etc. In 2016, Tesco made a remarkable statement that no food safe for human consumption would be wasted in UK stores. They were also known for being the first retailer to offer same-day groceries nationwide. and in 2017, Tesco Bank celebrates 20 years of serving Tesco shoppers. They established a full suite of retail banking products and saw strong growth in traditional banking markets, which included mortgages and current accounts, as well as innovation in the payments sector. We can learn more about Tesco through PESTEL. analysis. This will help clarify the extent to which political, legal, economic, social and technological issues affecting Tesco's political factors given that Tesco operates worldwide. It is strongly influenced by global political factors. Tesco helps countries by providing employment opportunities to the people of that country. As Tesco has over 46,000 employees, it provides important support to many countries in economic growth. Ongoing and current political issues will also affect Tesco. Issues such as new employment and economic policies. Economic Factors An economic factor that affects Tesco is mainly the change of rules in each country. As Tesco is a global retailer, sudden changes in the economy of each country can affect Tesco. Mainly changes like taxation, etc. The economic factor is also the most important factor in the retail industry. This is due to cost, demand, pricing and profit. Social Factors When consumer tastes change or when the trend changes, Tesco has to change products very quickly, otherwise sales decrease. Additionally, customers are offered a new shopping option instead of Tesco. This is how Tesco gets the idea of ​​the market. They started selling more varied products. They also sell non-food products. Now Tesco has also started selling organic food. Now most of them have started buying in bulk because Tesco has increased the quality of the products and started offering them at fair prices. Besides, there is a reason for this group buying: mainly, the female members also started earning money, so as the family's income increased, they started spending more on leading a good life. Technological factors New technology has 1 £.