Wednesday, January 13, 2010

Key Growth Drivers as Identified by Tesco CEO

Chief Executive of Tesco PLC, Sir Terry Leahy, recently identified six drivers for growth coming out of a recession. With global economies still in the picture this will be crucial in reaching consumers. Here are the drivers as posted by this article in retailwire. Enjoy!

Trust: Consumers will begin to shift to organizations that they trust during difficult times. Companies that show consumers that they are genuinely interested in doing better things will gain long term loyalty.

Information: Businesses must become transparent and hold nothing back from consumers.

Health: Products that focus on fitness, cosmetics, and fashion fulfill the need that consumers have of looking great and feeling great forever.

Convenience: Convenience stores like 7-11 and Tesco have thrived with more and more people having time constraints on a daily basis.

Simplicity: Consumers do not need 1,000 products but answers and solutions to the problems in their lives.

Climate change: Businesses must be able to adapt to changing times and different consumer needs as time goes by.

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