BMI4002M Leading Global Business
BMI4002M Leading Global Business
Introduction
Tesco started its internationalization journey with ambitious plans to enter a variety of markets in an effort to imitate its success on a worldwide basis. However, the business faced several obstacles while trying to enter the Chinese and American markets, which resulted in losses and finally led to its exit from these regions. The global marketplace offers businesses unprecedented chances to expand their consumer base, diversify their revenue sources, and take advantage of economies of scale. Internationalization was viewed by Tesco as an essential strategy to leverage its success in the UK and maintain its position as a top global retailer.
Tesco was drawn to both countries by the attractiveness of the enormous American customer base and the explosive economic expansion in China, where it hoped to create a solid foundation and repeat its success like in the UK (Yoder et al. 2016). However, Tesco’s ambitious attempt to enter the American and Chinese markets was hampered by complex cultural quirks and unique customer habits that ran contrary to its widespread procedures. The absence of a thorough market study and a comprehensive comprehension of regional cultures, tastes, and consumption patterns presented significant obstacles. Tesco’s efforts to acquire momentum and engage with consumers in these areas were hampered by these cultural differences in addition to intense competition and operational challenges.
In this regard, the following report will analyse the background of the company and its current capabilities. The report will also analyse the various macro-environmental factors that caused Tesco’s failure in the market. Moreover, these factors will also be analysed in order to identify how the company can effectively manage future possibilities of expansion, especially in terms of socio-cultural environment. Tesco’s internationalization efforts, despite obstacles and eventual withdrawal from the American and Chinese markets, highlight the need for thorough market study and cultural adaptability to ineffective worldwide expansion plans. Utilizing the valuable insight gained from these experiences may serve as a plan of action for Tesco’s future initiatives as it reevaluates its internationalization strategy. Through a commitment to cultural diversity, thorough market research, and a culture of adaptation, Tesco can more effectively handle the complexity of international markets and set itself up for long-term success in its globalization initiatives.
Background of the organisation
Tesco PLC is considered to be a British general merchandise and grocery retailer headquartered within the domain of the UK. The company is considered to be the leading multinational retailer in the UK and works with 33000 colleagues or more, to execute organisation operations (Tesco, 2024). The company aims to serve all its customers with sustainable and healthy food every day. Besides the company also aims to assist the customers to enjoy a good life quality, further ensuring easy and affordable living (Tesco, 2024). However, the core purpose of Tesco seems to be providing a detailed idea of the company’s objectives to sustain and operate successfully in the market. The main objective of Tesco is to serve communities, the planet and customers a little better with the passing days (Tesco, 2024).
In this scenario, Tesco has the objective of understanding customer needs while responding to and anticipating their expectations in the market. In respect to the community, Tesco has the objective of creating effective jobs and supporting a local producer and suppliers in different community programs. Along with that, Tesco is also committed towards the notion of sustainability and enhancing the supply chain to mitigate negative impacts from the environment to protect the planet. Concerning this, the mission statement of Tesco is to understand customers in the most effective ways while being the first company to meet their needs and demands in the market (Tesco, 2024). Apart from that, Tesco also has the mission of acting responsibly in the community to protect the planet. Based on this notion, Tesco has the vision of being the leading and effective retailer in the global scenario and providing customers with the best of all (Tesco, 2024).
Figure 1: Net stores closed and opened of Tesco globally
(Source: Global data, 2022)
Looking at the reports of Tesco it can be observed that since the year of its foundation, that is 1919, Tesco has been focused on global expansion (Tesco, 2024). As a result of this, the company has been observed to consist of shops within the UK, Slovakia, Hungary, Ireland and others. Moreover, the company expanded its operations in 11 other countries in the global scenario. However, reports of Tesco mark it exist from the US in 2013 while FY2018 and years after that revealed continuous growth. Looking at the past, Tesco has faced several barriers in its international operation due to cultural differences between the UK and the host country. As of 2016, Tesco was forced to close 116 stores globally due to cultural differences while 2018 marked the expansion of 224 stores globally (Global Data, 2022). Contrary to this fact, FY2020 indicated 2380 shop closures due to the Covid-19 pandemic while FY2022 marked 79 expansion of stores in the global scenario as per the figure above (Global data, 2022).
Figure 2: Revenue of Tesco
(Source: Bedford, 2023)
As a result, the company is the 3rd largest retailer measured by gross revenue and 9th largest retailer measured by revenues in the global scenario. The figure above depicts Tesco to be gaining a revenue of £52898 million in 2020 despite 2380 shop closures and the amount is more than £44914 million in 2018 (Bedford, 2023). The continuous growth of Tesco is also marked by the increasing revenue rate in 2022 and 2023, revealing an amount of £56404 million and £60246 million respectively (Bedford, 2023). Henceforth, Tesco has been operating successfully in the national and global markets through high revenue and store expansion.
Overview of Globalisation
Globalisation is indicated as a phenomenon for describing growing interdependence within the economic systems of the world along with populations and cultures through cross-border collaboration in terms of trades followed by information, people, investment, technology and services (Çapan et al. 2021). Globalisation took its shape from the first moment taken by the African population to move to different parts of the world. Lwoga and Adu-Ampong (2020) indicated globalisation’s origin to be from 18 and 19th centuries based on communication technology and transportation. Since then, globalisation has created a high impact in the areas of international trade and has become the prime necessity for organisations to secure proper growth and development while gaining relevant revenue for organisation success.
Contrary to this fact, Zajda et al. (2023) argued that globalisation among businesses has mainly become popular after the Cold War in 1990. In respect to this, it is being adopted by different businesses rapidly to sustain itself in the comparative era. Çapan et al. (2021) indicated globalisation to have political complexity that is highly effective in influencing business areas negatively. Contracting this viewpoint, Zajda and Vissing (2022) counter-argued that globalisation relates to technological advancements that benefit society as a whole. However, it consists of the chances of harming different groups within a society, but, overall it is observed to be an effective strategy that will be adopted by different companies to ensure a sustainable business environment with wide profit. Mark (2023) pointed out that the notion of globalisation relates to an organisation’s international expansion. As a result of this, it benefits in providing exposure to the companies and ensures a wide customer base.
Figure 3: Total stores of Tesco revealing its globalisation
(Source: Bedford, 2023)
Similar to this notion, Tesco also deals with the strategies of internationalisation or globalisation to gain proper market exposure and smooth operations with a high revenue margin. As for Tesco, the company invest highly in the area of Research and Development (R&D) to enter new markets (Tesco, 2024). Nonetheless, Tesco’s decision to enter emerging economies such as Asia and Europe to face little or no competition is also a part of its internationalisation strategy. However, 4859 stores of Tesco in 2023, worldwide which is higher than the previous year, that is, 4752 in 2022, 4673 in 2021 and so on indicates the success of the company in its internationalisation strategy (Bedford, 2023). Contrary to this, in the past, Tesco had opened more shops as compared to the current years. For instance, 7305 stores were the highest number of stores opened by Tesco in 2013 (Bedford, 2023). Henceforth, Tesco needs to shape its internationalisation strategy properly.
Macro environment analysis
PESTLE analysis
Political factors
Tesco’s failure in China was influenced by politics, government campaigns, and strong competition from local brands, leading to a hasty decision to buy out its initial partner (Banerjee, 2023). Additionally, according to a survey conducted by The Conference Board ESG Centre, there has been a shift in sentiment as 78% of US firms now consider the political environment to be very problematic for businesses (PRNewswire, 2023).
Economic factors
China’s economy experienced a slowdown, with GDP growth falling between 6.0% and 6.2%, marking the “New normal” as the country seeks sustainable growth in 2019 (Hsieh, 2020). Additionally, the global financial crisis severely impacted US consumers, leading to a decrease in spending (Onikoyi, 2019). Fresh & Easy faced lease expenses, causing Las Vegas and Phoenix to become repossession capitals. The crisis also severely affected the retail sector, causing significant losses for Tesco (Onikoyi, 2019).
Socio-cultural factors
It is found that larger choices provide more power of control, motivation, and a more satisfying shopping experience, highlighting Tesco’s lack of account for this trend (Banerjee, 2023). Additionally, Chinese consumers are different from UK customers as they prefer regular top-up shopping in dense population centres like Beijing and Shanghai, despite Tesco’s Clubcard approach’s benefits of loyalty cards being negated by traffic congestion. Moreover, Tesco’s failure in the United States may have been caused by its inability to react to local consumers’ tastes (Kar et al. 2021). Americans and British cultures differ significantly, leading UK businesses to mistakenly view the US market as a single entity, comparing it to Europe (Onikoyi, 2019). They failed to understand the differences in variety between the United States and the United Kingdom, due to its lack of patience (Kar et al. 2021).
Technological factors
Chinese ecommerce sites like Jingdong, Alibaba, and Tencent have significantly impacted the Chinese grocery market. This offered convenient and affordable options to the expanding middle-class, despite the cost of foreign mark-ups and posed a challenge for Tesco (Banerjee, 2023). According to CompTIA, there are more than 557,000 software and IT services companies in the US, and 13,400 tech startups were founded in 2019 (SelectUSA, 2023). Hence, Tesco should have benefited by collaborating with tech companies in the US market.
Legal factors
China faced challenges in establishing foreign legal entities due to restrictions targeting foreign enterprises (Hsieh, 2020). E-commerce law is the main source for business operations in Mainland China. On the other hand, US corporations face legal issues as they have to guarantee comprehensive terms of use, reveal third-party suppliers, clarify consumer cancellation or return policies, and establish a system alerting customers within 24 hours of a purchase (Business, 2023).
Environmental factors
The different environmental factors of the UK, China and the US have impacted the internationalisation strategy of Tesco. China has faced severe climate conditions, causing significant health and social harm, prompting significant changes in its environmental and pollution policies over the past two decades (Hsieh, 2020). According to Tesco’s research, consumers want a one-stop shopping experience and fresh organic food in sustainable settings (Onikoyi, 2019). But by placing Fresh and Easy locations in urban food deserts, they changed the market they were targeting to one where the emphasis was on lifestyle choices made while shopping (Onikoyi, 2019).
Strategy and Culture
Tesco started with a well-known strategy when it came to its strategic approach to China, hoping to emulate its successful UK model. The purchase of a portion of Hymall and the ensuing rebranding as Tesco Lègòu indicated a strategy to create a noticeable presence by utilizing its well-established brand identification (Woohyoung et al. 2020). The company launched its Clubcard loyalty program, highlighted its own label products, and mimicked its colour scheme because it saw it as a crucial differentiation to increase customer loyalty.
Tesco’s tactics, nevertheless, ran into strong cultural obstacles in the Chinese market. It was a misconception to assume that a replication of the Clubcard loyalty program would result in a comparable level of brand loyalty. Chinese consumers tend to be more variety-seeking than their Western counterparts. Instead of depending on a single supermarket to meet all of their needs, they choose to shop around and look for specific things from speciality suppliers (Chen, 2022). Loyalty for many Chinese consumers broadens beyond a single brand, with many of them participating in multiple loyalty programs for diverse choices and tailored shopping experiences to expand their bargaining power Tesco’s marketing efforts were further hindered by government programs such as the “Made in China” campaign, which attempted to promote Chinese enterprises and put Tesco up against well-established local brands with strong supplier links (Kar et al. 2021). Adding to that, Tesco was at a disadvantage because rivals like Walmart and Carrefour had already clinched top spots and a larger portion of the market. China’s expanding middle class has led to a rapid rise in online shopping platforms, which has increased competitiveness and provided easy options free from international markups.
Similarly, Tesco’s entry into the US market with its Fresh & Easy shops was met with a conflict between the country’s prevailing consumer culture and its strategic strategy. Tesco’s approach was designed to cater to everyday and special consumers, which was a paradigm that was far different from what the typical American consumer preferred (Rosnizam et al. 2020). The small-scale stores of Fresh & Easy, which catered to the everyday shopping needs of British urbanites, were very different from the American consumer’s tendency toward bulk buying. The demand for longer-term purchases, which lasted two to three weeks, was at odds with Fresh & Easy’s focus on everyday shopping experiences and ease. Furthermore, American customers used to diverse food selections and portion sizes were not impressed by the variety of ready-to-eat meal alternatives (Kukreja and Gupta, 2016). A further discrepancy emerged in Fresh & Easy’s self-service checkout system. This form of checkout may have been standard in other markets, however, American customers, who were used to checkout systems controlled by cashiers had different expectations about customer care and engagement in retail settings (Kar et al. 2021). This acted against the favor of Tesco and the company suffered lower customer engagement satisfaction.
Micro environment analysis
SWOT
| Strength | Weaknesses |
| ● Geographically diversified
● Growing number of stores |
● Failed operations in the US
● Poor operational performance in specific markets |
| Opportunities | Threats |
| ● Emerging markets
● Joint ventures |
● Competition with supermarket giants
● Supply chain issues |
Table 1: SWOT Analysis
In contrast to the strengths, Tesco is geographically diversified with a number of stores operating worldwide totalling 4,859 that includes franchisee stores as well (Statista, 2023). Hence, it develops the strength of disco to operate in a diverse market with customers and employees from different cultural backgrounds. Moreover, Tesco has also been found to hold a significant strength by the help of the growing number of stores around the globe that amounted from 4,613 in 2020 and reached 4,752 in the year of 2022 (Statista, 2023). Similarly, the strength of an organisational management is also noted to develop different opportunities for the organisational management to operate in the international market effectively. Therefore, entering emerging markets can be a prime opportunity that could be witnessed by the management of Tesco by the help of the strength the organisational management holds in the current market condition. Moreover, Tesco can also focus on implementing initiatives to successfully implement joint venture strategies in order to succeed in the current competitive market.
As for the weaknesses, Tesco has been found to witness a failure in the US market due to the cultural difference of the US customers in comparison with the UK customers (Cactus Global, 2022). For example, Tesco was noted to deal with challenges due to small store formats, poor store locations and food packaging concerns within the US market (Cactus Global, 2022). Apart from that, Tesco has also been found to have witnessed a significant work performance in the market of China due to the cultural irrelevant within its operational activities (Raconteur, 2023). In reference to the weaknesses, Tesco might also face significant threats operating in the international market by increasing competition from supermarket giants and supply chain issues.
Stakeholders’ analysis
As per the stakeholder analysis model, it is noted to be a strategic tool that is being used to successfully identify as well as understand the influence made by specific groups involved in business operations (Wood et al. 2021). Thereby, the model can be utilised in successfully assessing the stakeholders of Tesco in the current global market and understand their contribution towards better management of relationship and alignment of goals.
As per the framework, the internal stakeholder group of employees can be assumed to hold the position of high power with high interest. Hence, employees are found to be one of the most important internal stakeholders for Tesco operating in different parts of the globe. For example, Tesco is noted to hold 336,926 employees as of 2023, which is noted to be a decline of 5.02% from the year of 2022 (Macrotrends, 2023). In order to enhance the internal stakeholder performance, Tesco has been found to focus on developing an inclusive workplace that might help in promoting cultures by developing personalities and preferences from different backgrounds (Tesco plc, 2024). Moreover, suppliers of Tesco can also be considered as a prominent group of stakeholders with a positions of high power and low interest. Thereby, Tesco focuses on developing a multi-stakeholder initiative for responsible sourcing from suppliers from different parts of the globe (Tesco plc, 2022). Accordingly, there are prominent initiatives that are being implemented by Tesco in order to improve performance such as Action Collaboration Transformation (ACT) that includes suppliers such as Aldersgate Group, Better Cotton Initiative (BCI), Consumer Goods Forum (CGF), Prince of Wales’s Corporate Leaders Group (CLG) and The Ethical Tea Partnership (ETP) (Tesco plc, 2022). As per the above stakeholder analysis, it can be clearly assumed that each and every stakeholder of Tesco plays an important role in developing the organisational performance in the global competitive market.
Ethics and CSR
In terms of ethical standards, Tesco faced criticism for unethical treatment of the supplies in the global market. For example, Tesco was rated as one of the worst major supermarkets in terms of complying with the government-backed industry code design to protect manufacturers (The Guardian, 2015). Therefore, in order to overcome the issues faced by Tesco, the management was formed to implement different ethical initiatives such as the Tesco Supplier network that focuses on developing an online community for Tesco teams, supplies and products from around the globe (Tesco Supplier Network, 2024). In contrast to the CSR, Tesco has been focused on implementing different initiatives to enhance organisational standards with the help of different CSR strategies. Climate change is one of the major goals that focuses on aligning the CSR activities of Tesco to meet the target of carbon neutrality in operational activities by the end of 2035 as well as net zero across their whole footprint by the end of 2050 (Tesco plc, 2024). Apart from that, Tesco also focuses on implementing strategies that help play an important role in supporting local communities through the help of employing people, collaborating with local businesses and supporting local authorities (Tesco plc, 2024). For example, the implementation of CSR activities by Tesco has helped in developing partnerships with food banks that enabled the management to donate over 52 million meals in unsold food from the stores (Tesco plc, 2024). Apart from that, as per the CSR strategy, Tesco has been found to implement initiatives that help in embracing people from different cultural backgrounds to improve diversity. It can be stated as an example that nearly 85% of Tesco colleagues have highlighted that Tesco has an inclusive culture (Tesco plc, 2024). However, continued scrutiny and changing standards in the field of corporate social responsibility emphasise the necessity of constant development and attention to detail in the dynamic field of ethical business practices.
Conclusion
Tesco experienced failures in China and the USA as a result of failing to adjust its culture to suit the tastes and habits of the local populace. Tesco’s efforts were hampered in China by its failure to recognize the variety-seeking character of Chinese consumers, logistical issues, and political interference. The disparity in culture was highlighted by the mismatch between Chinese consumers and their loyalty preferences and Tesco’s Clubcard loyalty program. Similar conflicts existed in the USA between American preferences for traditional checkout procedures, varied food options, and bulk purchasing. Moreover, Fresh & Easy’s emphasis was on small-scale stores, self-service checkouts, and speciality shopping, which also backfired for Tesco. Therefore, Tesco needs to put more emphasis on conducting thorough cultural analyses, adopting localized strategies, and customizing products to fit the distinctive requirements of each country to remain ahead of such failures in the future.
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