Tesco International Report
The Tesco International Report suggests Tesco's global turnover is expected to reach €80 billion by 2010.
The Tesco International Report by IGD in 2003 attempted to predict Tesco's financial situation up to and including 2010. Its conclusions are standing up reasonably well in 2006. It suggests Tesco's global turnover will reach an incredible €80 billion by 2010.
Tesco's international operations are expected to account for over a third of the €80 billion. This compares to current figures of about a fifth for global turnover and a half of group retail space for international operations.IGD ranked Tesco at No. 5 in its Global Retail Index and suggested its key success factors were:
- global best practice sharing
- clear and focused global strategy
- home market dominance
But is was only ranked No. 7 in terms of turnover. To increase its global position, IDG stressed Tesco needed to increase its proportion of international sales.
In 2003 Tesco now achieved sales of £2,689 million in Europe (outside UK) and £2,033 million in Asia. By 2010 IGD forecasts that Asia will contribute 22% of sales, and Europe region will deliver about 15%.
- Growing its international programme is part of Tesco's four-part strategy.
The other three prongs of this strategy are:
- UK business.
- non-food retailing services.
- Tesco Personal Finance.