In comparison, others are fighting behind with 15.7, 14.1, 10.3, 7.7, and 6.3 percent of the grocery market share, respectively (Statista, 2021). As of December 2020, Tesco is considered the consistent market leader in terms of the grocery market share of 27 percent. The major competitors of the group are Sainsbury’s, Asda, Morrisons, Aldi, and The Cooperative. As a result of this increase, a number of groups and companies have captured the market to provide multiple platforms for the customers to purchase from, resulting in fierce competition among established players. The competitive rivalry in the retail industry is high due to the community’s increased demand for and supply of commodities to meet basic needs. From the global retail industry perspective, the assessment of Porter’s five forces would be a practical means for maintaining appropriate strategies to better understand the company standing position. The firm is operating over a vast network of around 7000 locations worldwide. As of 2019, the corporation showed substantial revenue of 64.760 Billion Pounds and has involved an employment figure of almost 423,000 (Tesco, 2020). In context to the retail segment, the company was founded in 1919, having its headquarters in Hertfordshire, England, United Kingdom. Tesco Plc is a British public limited company dealing in the retail industry and providing services in the form of supermarkets, hypermarkets, and superstores across the country and other areas of Europe.
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