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Tesco Plc. - Enterprise Tech Ecosystem Series
Tesco Plc (Tesco) is a worldwide retailer of general merchandise. The company carries out business through both offline and online channels. It operates stores in multiple formats differentiated by size and range of products sold, including large, small, dotcom only, and one-stop. Tesco offers a wide array of food and non-food products, including fresh food, bakery, frozen food, grocery, toys and games, home and entertainment products, consumer electronics and electrical goods, drinks, baby products, garden, clothing, household appliances, pets, and health and beauty products. It also provides retail banking and insurance services in UK through its subsidiary Tesco Bank in the UK. The company has expanded its business presence across the UK & RoI, Europe, and Asia.
Tesco established Tesco Labs as an R&D center in London in 2014 with an aim of developing new products, services, and experiences serving the needs of customers and businesses through use of established as well as emerging technologies.
Tesco launched an Incubator Program in 2014 to help small entrepreneurial brands with the potential to develop innovative solutions for the company and enhance its customer experience, to scale up and grow.
In 2020, the company introduced another edition of the Tesco Agri T-Jam in collaboration with World Agri-Tech for seed and early-stage agri-tech startups working in the areas of predictive farming, robotics, automation & sensor technologies, crop-specific solutions, shelf life & storage, livestock and supply chain efficiency & waste reduction, indoor & vertical farming to improve supply chain efficiency and sustainability.
The report provides information and insights into Tesco's tech activities, including -
- Insights of its digital transformation strategies and innovation programs
- Overview of technology initiatives covering partnerships, product launches, investments and acquisitions
- Insights on each technology initiative including technology theme, objective, and benefits
- Details of estimated ICT budgets and major ICT contracts
- Tesco has always been proactive in capturing data, be it consumer, product, operational, or market related to derive valuable insights from it and use the same to improve its operations, tap new opportunities, provide better services, achieve greater customer satisfaction, and most importantly, make better decisions.
- Tesco has been using a range of analytical solutions to analyze the data it generates and derive meaningful insights from it. For example, it uses big data analytics (BDA) and machine learning (ML) technology to analyze club card data and predict customer purchasing behavior and use the insights to improve product offerings, design sales & marketing efforts, and extend personalized discounts to meet customer expectations.
- Tesco caters to a large customer base and operates through a network of 4,673 stores across the globe. The company holds enormous personal and sensitive data on customers, suppliers and employees, which needs to be protected.
- To improve its operating model, Tesco has invested in digital in-store initiatives like Electronic Shelf Edge Badges, which eliminate the need for employees to change paper labels manually, and in-store video cameras, that detect stock on shelves and cashless stores.
Reasons to Buy
- Gain insights into Tesco's tech operations.
- Gain insights into its tech strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into various product launches, partnerships, investments and acquisition strategies.