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Point of sale-Never get overvalued when you are spending

Point of sale-Never get overvalued when you are spending

Today when the shopping has been everyone’s desire then computerized cash register is making their purchase more happening and easy. Point of sale helps the shoppers to understand each and every single detail about the transaction. This style of registration has made everyone’s life more relaxed because now there is less chance of getting miscalculated.

In today’s world every person wants to be stress-free when it’s about shopping, transaction or anything related to that. Computerized registered has helped the buyers in many ways. Now one can be quick as much as he can, sometime when a person goes for shopping, then the paying part can be one of the most hectic part. But if the retailer has the computerized cash register system then the shopping becomes less frustrating. Point of sale not just help the purchaser, it is also very helpful to the seller.

Benefit of Computerized money record

A seller can have multiple transactions so with the help of computerized system things can be easier for the seller as well as for the purchaser.

The main purpose of online cash transaction is to make the sell load calmer.After having computerized style of cash transaction; retailer’s life has been more relaxed and composed now. A good sale can be get affected if the checkout point stage is not quick or fast so by the help of computerized system retail can be handle suitably. Today there are many software companies who are trying to enhance the transaction software to make the computerized money record system more effective and smooth working system.

Point of sale has been a big and powerful information system for stores, supervisors and store owners. This computerized based cash register system has been a boom to the retail stores and indirectly, for the store honors too. Making online transaction is among the most influential, refined and user friendly system and it is an advance technology to this century. This technology has given more creativity to the store retailers. This invention is one of the coolest inventions in today’s world .Computerized system has drastically decreased the working cost and human errors. This is a revolutionary to the eatery and fast food franchise world.

There are different sale system in this technology which really help the retailers to deal with different problems while check out point. Internet based money system is very useful in the hospital. It is used for checking the guest list, visitors etc. This small machine looking system does so many big and important works.

So, make use of this latest technology and make your transactions easy.

About the Author

The Ricky Wuori has been in the field of retail service for a lot of years now and has been writing articles and blogs about the retail industry. The Ricky Wuori has a vast knowledge about the working of pos system and shares his knowledge with the world through articles and blogs.For more information please visit here Point Of Sale.

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Software For Retailers in Retail Industry

Software For Retailers in Retail Industry

There is a specific type of software known as retail point of sale software. This is used specifically at the cash register where the payment for goods transaction is made. Think of this software like an electronic cash register though it can do a lot more. You can keep track of stock, print out receipts and even print out vouchers. The very first version of point of sale was in 1973 from IBM though it did not do much. Pathmark and Dillards department stores were the first to use them.

Restaurants were able to use a type of point of sale software as in 1979 software was developed to take an order and then have the food preparation instructions print out in the back. This software was also able to print out labour reports and food costs. The most modern types of point of sale software were developed as Windows was designed.

The latest types of software were specifically designed to be able to have remote support, easy to use, rich functionality, be consistent, have high operating speed, be reliable and have a low cost. You also can get web based software for online stores and this can usually be used for both online stores as well as retail stores. Most times web based software is less expensive than other versions.

Different type of industries use different versions of point of sale software because of the different needs. Medical offices will need to be able to integrate peripheral software as well as being networked to many different offices. This software also revolutionized the restaurant industry and there are many versions. Most restaurant uses touch screen and has made running the restaurant much more efficient.

The hardware that is needed for point of sale generally uses a credit card reader, receipt printer, cash drawer, barcode scanner and pin pad that has a card swipe. All of these external hardware pieces use USB connection. Some of the top software systems currently used in the US include Radiant/Aloha, MICROS, Citadel POS and internally developed point of sale software.

No matter what software you choose the initial set up can be a bit of a pain, particularly if you are using older equipment. Most software offers a lot of mix and match features so you can start with the basics and as your company grows add on. Web based solutions are popular because you do not have to deal with in store setup by access the software from any computer. This is perfect for those with more than one retail location.

Many times the software can be a pain to set up in store and you can hire someone to deal with this. Though once it is up and running you should not have any issues.

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Cash Register Multi Utility Device For Your Businesses

Cash Register Multi Utility Device For Your Businesses

If you are running a super market store and have a 60-80 billing per hour, then surely you need someone who can do it speedily with perfection in calculation. A single person cannot do this work. Human mind has some limitations and there are chances of some mistakes in calculation. So, there is a need of a device which can calculate bills speedily with accuracy. Cash register is perfect for this purpose. You can purchase both mechanical and electronic cash registers for your business and these will enable you too quickly and efficiently process customer purchases and keep accurate records of your daily sales transactions. Its provides a number of useful services across a wide range of sales businesses including retail stores, food and drink outlets, cinemas, supermarkets and more.

It will ensure that the checkout stage of your business is as fast and seamless as possible as they can be used to quickly calculate the total sales price of each transaction and also provide the sales clerk with the exact change that needs to be given. A bill of purchased item can be provided for customer that details the transaction and may also include additional details such as the date/time, sales clerk ID name/number and refund policy. You can use cash register sales receipt to advertise upcoming events in your store such as seasonal sales or new product launches.

Cash register sales receipt can help customers to keep record of those things which they have brought from the store, issued this receipt. In case of expiry of any product, consumers can contact the store and can claim for the better services. Cash registers can improvise the security on your shop floor as the cash drawers will be securely locked until successful sales transaction is put though. It prevents the need to keep money out in view of the public and also reduces the chances of theft. Every store has a Cash register sales Clerk who check all the transactions made during the day and cross check it with the total amount of money in cash register at the end of the day. This allows you to check each and every entry of transaction made very minutely. All the details are mentioned properly with date and time. Only senior sales staff can be provided with an override code or passkey in order to access the sales drawer in case a refund needs to be given or the customers have received the wrong change.

There are many varieties of cash registers available in the market for different purposes. With electronic cash registers, you can purchase integrated credit card readers. It allows you to provide more options of payment to your customers and helps in entertaining credit cards and debit cards. Credit cards can be processed securely through PIN readers. You will also be able to accept cash, cheques, vouchers and loyalty card. In case of audit reports, That will record detailed information about each sales transaction. It not only provides a clear picture during audit trial but also allows corroborating stock levels.

If you are looking to buy cash register, then there are many websites available on the Internet on which you can easily find cash register on sale at very cheap rates.

There are many varieties of cash registers available in the market.This website provide best cash registers for sale.Which You can use cash register sales receipt to advertise upcoming events in this store.

http://www.sooperarticles.com/technology-articles/software-articles/cash-register-multi-utility-device-your-businesses-1107192.html

Enhancing Your Business By having a POS System

Enhancing Your Business By having a POS System

Based on the National Museum of American History, earth’s first cash register was created in the United States by way of a person called James Ritty. Ritty, the owner of a saloon in Dayton, Ohio, came up with the Ritty Model I in 1879 as a way to stop his employees from pilfering from his day’s revenue. This predecessor to the modern cash register, and our present-day POS system, was encouraged because of the rotations of the propeller attached with a steamship. Nowadays, this seemingly innocent device is only a tiny element of a retail shop, and yet is a crucial aspect inside a greater POS system which is used to practically run the business enterprise independently.

A cash register is a small yet vital element of a larger POS system Australia is seen to provide. Look around in virtually any retail business around the globe and you will definitely locate a cash register utilized by the store’s staff to acquire any payment for products and services obtained and printing out receipts. A cash register however, is simply one component of an even greater retail platform being employed in just about any retail business observed around the world today, a system that is now as necessary as the merchandise a retail business has for sale.

This retail system can be viewed just like any normal POS system Australia presents. These systems are bundled electronic platforms consisting of a collection of advanced software and hardware bundled up into a specific package. This is actually combined in the whole business’ operations, the device being handled by the enterprise owner or perhaps the store’s personnel.

The typical POS system has several helpful features, most notable are:

Real Time Data Processing – point of sale systems are generally hooked up toward the Internet by having a solitary main database to ensure that all retail particulars (sales, customer, and also other important information) is stored immediately and can be reached quickly.

Intelligent Stock Control System – modern point of sale systems already have got the power to trace the merchandise levels/quantities not simply in one store, but also in each of the outlet stores of a retail company. This sharp merchandise capacity can monitor which distinct product is running out and the fastest selling. Consequently logistical and warehousing bad dreams or nightmares of history that cost companies considerable amounts of money can now be warded off.

Remote Access Through the Internet – The system is connected to a primary server enabling business owners to access their POS system from anywhere on the planet. The benefit of easily interacting with the program frees business owners to pay attention to other business efforts which include business expansion and diversification. Easy access is made achievable via the internet, more specifically with the use of cloud technology, the web-based tool to operate any POS system Australia is offering. It is convenient as opposed to cumbersome large programs you have to install.

For anybody in existence looking to improve the way they manage and operate their retail business, they should take a look at these POS systems, systems that are known as the present and future of the retail industry.

Christina Evans operates a modest chain of grocery chains being run by using a pos system, and swears by any pos system Australia offers, since these systems have been helping him earn more money for less effort given.

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How To Run A Profitable Retail Store With Pos Systems

How To Run A Profitable Retail Store With Pos Systems

If you are running a retail store, small or big, and want to see an immediate return on investment, a retail point of sale (POS) system could help you with more than just a way.

One of the biggest advantages of using such a system is that it would pay for itself, over and over again, primarily because of its functionalities. In addition to this, it even offers a simplified view of what items are selling and what are not so that it is easy for you to make informed purchasing decisions. A retail POS system is also helpful for the owners and the managers of retail stores when they are on the move and need to know about inventory, performance, sales, profits, and return on investment.

Since every transaction processed by a point of sale system is time stamped, it becomes easy and rewarding for store managers and owners to identify peak selling hours, best products, and products that are not generally bought by customers. Furthermore, a good retail point of sale system helps in avoiding double entry of orders and no more guessing games when it comes to purchase orders and is extremely useful to automatically calculate and create restocking orders so that orders by the store are always placed well ahead in time with the vendors. In addition to these distinctive advantages, such a simplified system also proves useful to promote quicker and more accurate checkout experiences for the customers and less time behind the counter for the store staff. It would even help you avoid separate systems for mail order, retail, eCommerce, and wholesale divisions and automate all the process-oriented tasks at your store.

If you want to avail these and many more benefits of POS systems, it is highly recommended that you access the website of a trusted POS hardware and POS software supplier.

By contacting a successful, experienced, and customer-oriented POS hardware and POS software supplier, you can easily eliminate shrinkage at your store. This would also protect your store from theft, wastage, and employee misuse as employees would be aware that the inventory is being tracked carefully. Moreover, this would even help you reduce the time you may have spent on calculating inventory, sales figures, and profits to get benefited from time, effort, and resource savings besides getting the complete peace of mind. In short, using a smart POS system is all you need to increase the bottom-line of your retail store in no time.

POS Central provides detailed information on Cash Registers, Cash Registers for Sale, Electronic Cash Registers, Used Cash Registers and more. Check out our website for more information: http://www.poscentral.com.au/

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The best way to search An Easy POS System

The best way to search An Easy POS System

With this program you’re able to management purchasing, client monitoring, stock, and far more. Having a retail store POS Edmonton, or a retail store POS Systems is usually the same technique. You’re able to monitor them down much simpler.

We’ve come a long way with funds signs up and the whole retail store program. With the automated program that they have these days, they can management stock and information better than before by studying how to make use of retail store POS Systems. It is a program that makes day to day revenue simpler to deal with.

The pos system was expensive, but with the innovative technological innovation, it is now available much more cost-effective than ever. The simplest program will have a card audience, as well as a sign-up.

Don’t be terrified to change the way you function your company. One time you generate the first step by purchasing it, all you require to do is figure out how to set it up. There is no requiring to practice in this program because it is so simple. Adhere to the simple guidelines.

Owning a company these days is challenging. By having the appropriate program to make your company not as challenging to deal with can be a life saver. This is why it is important to understand how to work a POS Systems. In the event you own a little or a large company, one time you have this program not only does it manages your revenue and stock, but can also generate your revenue go higher. Understand to make use of it effectively and then educate it to the staff. You are all set to start a simpler way to run your company.

The pos display has lots of features for you to understand so you can increase your information. By using this program, your can have your stock much more managed and will cease you from either being overstock or under stock.

Lots of shops are using the POS Systems. It comes complete with an audience that flows bar requirements. This way you manage errors done by people. If you are an entrepreneur and is looking for a way to generate their company better, call now and find out how to buy a POS Systems.

First you will manage the stock the best way. Stock sometimes is not simple to deal with seeing that items offer out as quickly as purchasing them, or they stay on the display gathering dirt. With this program, you will be purchasing only exactly what you require, based on your everyday revenue. It can also select the selling done before.

A POS Systems or lots of times known as point-of-sale are an amazing way to procedure expenses instantly using a system. This is a huge comfort for not only the entrepreneurs but the clients allowing them to pay for their food and food with a charge or bank cards. This creates life a bit simpler for making a transaction while still providing the choice since a few years before money was mostly the only option available.

You can buy the POS systems and then set up it on your current computer.

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Retail Supermarket POS Software for Business Shops

Retail Supermarket POS Software for Business Shops

As a matter of fact, there is a various number of software today. One of the most popular software is the supermarket or grocery software designed primarily for inventory tracking making your business shop work a lot easier. This is helpful because it provides customers the best and the most advanced sale solutions that you will definitely appreciate. It is highly specialized in retail pos solution that provides at your needs as departmental shops. By reading the entirety of this article, you will know the benefits and advantages of grocery & convenience store pos.

The first advantage of grocery system is that it helps in finding the worst and the best products in just a matter of minutes. You can also compare the daily, weekly and monthly sales including the yearly sales. It also has the ability to track the customers buying patterns as well as self-checkout solutions. You can also view the daily sales deposits and tenders. You can also easily monitor the cash registers and in depth cashier examination. This kind of software will definitely help you in earning more money and to make your business store a success. The great advantage of the hypermarket software is that it can be used easily and need specific requiring training.

Supermarket billing system can be very essential especially that it is the one who will compute and track the inventory for you without any hassle. It is also multi-purpose meaning that it automatically keeps track of your customer and stocks while you are processing the sale. It is a great solution in serving your customer faster and gives information in order for you to make a better buying decision. Usually supermarket software has a multiple reporting function as well as X or Z reading. It also has the ability in taking payments on multiple currencies. The terminals will also work the event on network failure. It can report multiple sites and main office functions if you have a many chain stores.

Grocery software is a big help to you as a grocer and to the people as your customer. Today, software can be purchased or downloaded online. The best advice is for you to pick for the best. By looking for testimonials and reviews, you will be totally inculcated about the software capabilities and disabilities. It is also essential to ask and listen to those people who already tried the software in order for you to know whether it is worth buying or downloading. There are so many types of grocery software today and the best thing to do is to find the site that offers a free trial in order for you to know if it suits your preference or not.

Grocery software is a system that will integrate and manage all card fees processing as well as transaction service into a very easy operating package. People can now pay bills from their card easily saving their time for their own convenience. Grocery software supported business types are hypermarket shop, grocery store, supermarket shop, convenience stores.

GoFrugal specialized in retail supermarket pos software , grocery store, hypermarket inventory system, convenience store, departmental billing software suitable for your business needs. For more information visit http://www.gofrugal.com

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Retail POS Organized Computer Management and Marketing

Retail POS Organized Computer Management and Marketing

The retail POS cash register software provides computerized management and marketing for food service establishments as well as hair salons, spas, clothing stores, dry cleaners, dollar stores, bookstores, and more. This unique product is customized for each of your needs providing: product ordering, payroll options, employee organization, customer incentives, inventory oversight, payroll options, and more. Use this product to benefit one store or multi-store chains. Learn more about this unique product. The POS cash register software is a unique product that has been designed by managerial and computer experts. It provides streamlined management taking the waste often seen through human error out of the equation. Businesses are able to move to new levels of productivity through the many options available for both marketing and management. Options available include: payroll, fast credit card transactions, customer appreciation incentives, food ordering, delivery orders, product inventory, gift cards, automated e-mails, employee hours and wage organization, and more. Businesses are able to streamline their production and management through computerization. Waste is eliminated that is commonly found in both retail and food service establishments. Success is achievable through customized options that generate smooth management through the POS. This beneficial tool is a clear-cut example of excellent managerial and marketing. The strategies included are used by major franchise organizations. You can now benefit from the many options that have been previously only available to large franchise organizations such as computerized automated customer incentives. Read this article to learn more about the many benefits available to you through the cash register software. The POS cash register software is utilized in many businesses including: carwashes, bookstores, clothing stores, hair salons, dry cleaners, spas, sit-down restaurants, delivery only, pizzerias, and more. This beneficial tool is useful for one store or multi-store chains. Establishments are transformed to moneymaking, community known establishments through the use of this computerized management and marketing system. Many customized options are available to exclusively meet your needs. This product can arrive preinstalled on state-of-the-art equipment and ready to be plugged in. All features are built-in to the state-of-the-art equipment allowing for the easiest functioning possible. A cost savings alternative is available: the software can be installed on your pre-existing equipment. A sales are presented/computer specialist will be able to provide you with information pertaining to the equipment you currently use and its adaption to the software. 24-hour customer assistance is available along with DVD training. The system is easy to install and utilize in your business. You will watch your business become transformed before your eyes through the use of this beneficial tool. It provides clear-cut communication and excellent organization. Remove the risk of human error. The marketing aspect of the POS retail is seen in the automated customer appreciation program. This unique program builds a strong customer base and community awareness through automated coupons print on the back of receipts, automated e-mails announcing specials and inviting friends, automated birthday specials, and more. It is proven to be seven times more effective to build your customer base through repeat customers than it is to focus primarily on building new customers. This is a major marketing tool that is used by large franchises and now it is available to you. It is proven effective and is hugely beneficial to building a strong customer base and generating new growth. This exceptional system will build your business substantially while increasing your profit margins and minimizing waste. Utilize this marketing strategy and computerized or management through the retail POS.

POS Nation is your source for cash register software and all things POS.

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Point of Sale Systems for Faster, Systematized Processes

Point of Sale Systems for Faster, Systematized Processes

Technological developments have provided people with a lot of advantages. They make a lot of tasks simpler. One of the benefits offered by these developments is that they can make business processes smoother and faster, helping a business increase productivity. There are a lot of software and systems that have been developed to achieve this function. An example of this is point of sale or POS Mac software.

Handling the financial processes and transactions of a business is an important and challenging task. Accuracy is required; every last cent must be accounted for. Speed and promptness is necessary when it comes to calculating finances. An example of a device that can perform this function is the electronic cash register. In retail stores, grocery stores, and other similar establishments, the cash register is an essential component in the system.

The cash register is where the customers pay for their products. The location where this transaction occurs can be referred to as the point of sale, or the checkout. The term point of sale can also refer to the system of hardware and software used to perform these functions. A typical point of sale terminal has a display screen for the cahier, a customer display, a bar code reader, a cash drawer, and some may have credit card swiping systems. A printer for the receipt is another basic component.

Today, points of sale systems like POS Mac software are highly advanced. POS software can now handle sales processes better and record all sales transactions. They can also generate daily, monthly or even yearly reports, depending on how advanced they are. More advanced POS systems even have inventory management functions. Each item or piece of product is recorded or entered into the system to be tracked.

A lot of industries use point of sale systems, and different features and functions may be removed, depending on what the industry needs. Take retail stores as an example: they usually have the aforementioned components of an average point of sale terminal, like bar code scanners and credit card swiping systems. A grocery store may also have this, but it can have something additional, such as electronic weighing scales that automatically calculate the total price.

When the cash register was first invented, it was operated manually, and it was only used as an adding machine. Today, the cash register can be part of a point of sale system that automates, systematizes, and speeds up not just purchases, but other important accounting tasks as well. A point of sale system like POS Mac software can be beneficial to both businesses and consumers.

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Tesco Stores Malaysia – Service Marketing Mix

Tesco Stores Malaysia – Service Marketing Mix

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Tesco Stores Malaysia Sdn. Bhd.

SHAIKH MOHAMMED FAISAL, Matrix 012010110114

MSU Graduate School of Management, March 2011

Introduction

Tesco History

Tesco originated in 1919 when Sir Jack Cohen used his gratuity from his Army service in the First World War to sell groceries from a market stall in the East End of London. By the late 1920s, Tesco (or TES from TE Stockell, a tea supplier that he used, and CO from Cohen) was selling from open-fronted shops in London high streets, the first store being at Burnt Oak, Edgware. Cohen’s motto was “Pile it high, sell it cheap,” referring to the idea that customers wanted inexpensive products at convenient locations and that volume would drive profitability. Sir Jack Cohen concentrated on growing the business, vigorously pursuing expansion. Tesco Stores (Holdings) Ltd was floated on the London Stock Exchange with a share price of 25 pence. Until the 1970’s, Tesco operated on the ‘pile it high, sell it cheap’ formula Cohen had imported from the USA. However, the market was changing, leaving the company with slim margins and a serious image problem. Under the leadership of Ian MacLaurin, who succeeded Jack Cohen in 1973, Tesco decided to try something dramatic and different which to become an ‘inspirational mass retailer’. Tesco decided to modernize itself, closing 500 unprofitable stores, and extensively upgrading and enlarging others. At this time, Tesco prioritized the development of large out-of-town stores where parking was convenient, the selection of goods broad, and where a higher volume of business could be generated at increased margins while reducing overheads.

Tesco Stores Malaysia Sdn. Bhd.

Tesco Stores (Malaysia) Sdn. Bhd. was incepted on 29 November 2001, as a strategic alliance between Tesco Plc UK and local conglomerate, Sime Darby Berhad of which the latter holds 30% of the total shares. Tesco opened its first store in Malaysia in February 2002 with the opening of its first hypermarket in Puchong, Selangor. Tesco Malaysia currently operates 33 Tesco and Tesco Extra stores. In 2004, Tesco Malaysia launched its own house brand, Tesco Choice. In December 2006, Tesco also acquired Makro Cash & Carry in Malaysia, a local wholesaler which was rebranded to Tesco Extra and provides products for small local retailers. In 2007, Tesco launched ‘Club Card’. This acts a way to say thank you to customers by giving back their money to them. Club card has received an overwhelming response from customers with nearly 2 million household members signed up to date. As of January 2009, Tesco have rewarded nearly RM10 million worth of Club card Cash Vouchers to the customers. Later in year 2008, Tesco introduce Green Club card and Green bags making Tesco Malaysia to be the first Tesco International business to introduce the Green Club card scheme. As part of its global commitment, Tesco Malaysia is market leading on tackling climate change in techniques of energy saving, launching Green Club card Points to incentivize customers shopping with their own bags, introduce degradable carrier bags, promote positive behavior among staff though Energy League competition intra stores and a recycling centre to facilitate customers to do their part for the environment. Apart from that, Tesco has launched new promotion campaign to the consumers, 50 basic needs guaranteed not beaten on price. 2009 has embarked Tesco as the number 1 Hypermarket in Malaysia.

Strengths

Own brand value

Tesco has a strong own brand value which is becoming known throughout Malaysia due to existing expansion program.

Competitive Pricing Strategy

The targeted price cuts enabled Tesco to attract more shoppers from competitors and capture the volume that supported the lower prices. Tesco has extended its low price positioning in core groceries across non-foods lines to undercut competition which actually Tesco selling with low price but provide high volume.

Customer loyalty/relationship

Tesco gained customer loyalty or relationship by launching Club Card scheme. Customers like the Club card program mainly due to the personalized treatment they receive and the relevance of rewards.

Acquisition of Makro

Tesco acquire Makro and convert it to Tesco Extra. What Tesco does is they operate it similar to Makro, but more flexible. For example, Makro do not allow customer to buy in small quantity, but Tesco Extra allow but charge higher than those buy in bulk. By doing so, Tesco could earn profit from those SME as well, besides individual customers or family type customers.

Strong hypermarket format

The expansion of new stores by adding space to existing locations has contributed to the growth of Tesco supermarket. Besides that, Tesco runs two type of hypermarkets format which Tesco Hypermarket and Tesco Extra Hypermarket.

Weaknesses

Dependable of UK business

Since Tesco Stores Malaysia is one of Tesco PLC UK market in Asia, all the business decision has to follow UK. This could be the weaknesses for Tesco Malaysia to expand their business widely. Since Tesco is foreign brand hypermarket in Malaysia, Tesco PLC has to adapt to local business. Although international business is still growing, and is expected to contribute greater amounts to Tesco’s profits over the next few years, Tesco Stores Malaysia is still highly dependent on the UK market (73.8% of 2003 revenues). Any changes in the UK supermarket industry over the next year for example, will somehow affect the Asia market such as Malaysia.

Burden of higher advertisement cost

Since Tesco Stores Malaysia is launching Everyday Low Price campaign, all the cost including papers, printing, people and distribution and marketing promotion has to be borne by Tesco.

High turnover rate of employees

Tesco experienced high turnover rate with their employees especially in the operation department. Many of their employees resign after only working one or two months in their supermarket, which is not good for them as they will need to find and employ new employees. The cost of training and development for new staff will burden Tesco.

Company’s Core Business

The UK is the biggest market and the core of TESCO business. The aim is to provide all of the customers with excellent value and choice. It has been innovative and energetic in finding ways to expand, such as making a large-scale move into the convenience-store sector, which the major supermarket chains have traditionally shunned. Tesco has 702 stores and is the largest food retailer in the United Kingdom. Tesco continue to increase market share through their policy of cheaper prices, offering better value and providing more choice and convenience for customers. Market share of the UK has grown steadily since the early nineties as a result of our customer focused strategy.

Company’s Supplementary Business

Non-food business

The aim is to be as strong in non-food as in food. This means offering the same great quality, range, price and service for our customers as in the food business. Many supermarket chains have attempted to diversify into other areas, but Tesco has been exceptionally successful. By late 2004 it was widely regarded as a major competitive threat to traditional high street chains in many sectors, from clothing to consumer electronics to health and beauty to media products. Tesco sells an expanding range of own-brand non-food products, including non-food Value and Finest ranges. It also has done quite well in non-food sales in Malaysia.

Community

Making Corporate Responsibility integral to our business is essential in applying our values as a responsible business. We believe it is also an opportunity for growth. Tesco Malaysia is committed to stay close to the heart of the communities Tesco Malaysia is part of. We responded and worked with many local communities including NGOs such as the National Cancer Council (MAKNA) to raise RM450, 000 through fundraising and Walk for Life series to raise cancer awareness. Tesco has also raised funds for the Malaysian Nature Society through the sales of its designer green bag and carrier bag sales and Walk for Schools donation to local primary schools. Tesco Malaysia’s Charity partner of the Year 2010 is Nur Salam, and we aim to help improve the quality of life for these children through customer and staff fundraising activities at all its stores nationwide.

Personal Finance

Tesco has followed its customers into the growing world of retailing services, aiming to bring simplicity and value to complex markets. Tesco Stores (Malaysia) Sdn Bhd is making it easier for customers at 22 of its stores nationwide to do hassle-free banking within 10 minutes through Easy by RHB at Tesco stores, collaboration with the RHB Banking Group. Following the successful launch of its first two financial products in January 2009, the co-brand Tesco-RHB Credit and Debit Cards, there are now five new, instant banking products being offered to existing and new customers expanding the range of products that customers can access quickly and conveniently while shopping at Tesco. Whether it’s opening a savings account, applying for a credit or debit card, buying life and personal accident insurance, arranging Amanah Saham Bumiputera financing or applying for personal loans up to RM50, 000, everything is quick and convenient at Tesco. Background checks and approvals are completed on the spot at conveniently located kiosks in Tesco stores. This signifies another important milestone for Tesco in expanding its financial services in Malaysia. This is Tesco’s way of showing that TESCO are looking into the needs of their customers by bringing them a more convenient way to get financial services and this new concept of banking allows our customers to get banking services during weekends and after office hours. They will consider any move to make shopping at Tesco an enjoyable and beneficial experience for our customers. Customers are of utmost importance and Tesco want to be able to give them as much benefit as they can. This may include entering into collaborations with other companies so that Tesco can offer the best in the market for their customers. It is a matter of keeping the interests of customers at heart. Easy by RHB @ Tesco is a revolutionary banking concept that offers simple, fast and convenient banking. Customers just need to bring their MyKad for on-the-spot approval and instant cash or loans up to RM50, 000, all without the need to fill-up any forms as details are captured electronically and a unique biometric verification system is used. This concept of being the first and only hypermarket in Malaysia to provide banking to their customers is exclusive to Tesco. The Easy by RHB @ Tesco kiosks are now available at 22 of Tesco’s 33 stores nationwide daily, open from 10am to 10pm. The RHB Banking Group is appreciative to Tesco in bringing Easy into their stores, and concern that this step will further strengthen our partnership and cooperation. There are 33 existing Easy outlets in operation, 26 standalone, 5 Easy by RHB @ Pos Malaysia, and 2 kiosks at LRT stations and now with Tesco as the distribution channel, which will make the total number of Easy by RHB outlets 55 hope to reach out to more customers and give them value-add services that they do not get from other financial providers. In addition to that, this easy banking concept, touted to be the first-of-its-kind, also empowers the people to take control of their finances in a simple, convenient and affordable manner.

Tesco’s Service Marketing Mix

Product Element

Tesco aim to:

– build strong relationships with our suppliers

– get the best value for our customers

– give our customers confidence that we maintain good standards throughout our supply chain

At Tesco their aim is to buy and sell products responsibly – so that customers know that everything they buy is produced under decent conditions, and everyone involved is treated fairly. They believe firmly in the benefits of trade. For customers, they use trading to put products within the reach of ordinary people, and ensure economic growth. For suppliers, they have a wide influence on the way they treat their workforce.

They want the right values in supply chain, good animal welfare, and decent prices and conditions for suppliers. At the same time, they also need to provide good value products to customers, many of whom are currently struggling to make ends meet.

Place & Time Element

Tesco Malaysia operates 36 stores and in two formats following the acquisition of the Makro Cash and Carry business in Malaysia in December 2006. Tesco Stores Malaysia Sdn Bhd has been separated into 2 formats which are Tesco Hypermarket and Tesco Extra Hypermarket.

Tesco Hypermarkets

The hypermarket format offers customers a complete one stop shopping for their needs from fresh food to groceries, from household needs to apparel. It carries more than 60,000 lines of products including nearly 3,000 own brand of products ranging from food to non-food items.

Tesco Extra Hypermarkets

The Tesco Extra format serves the needs of small businesses, families and individuals all under one roof by providing a comprehensive range of products and services focused for small businesses including bigger pack sizes, special trolleys and checkouts as well as a dedicated business development team to support small business owners with their orders. Tesco Extra, the newest business format in Malaysia opens its first store on 30th April in Seremban, with the conversion and refurbishment of what was once Makro Cash & Carry Seremban. Now, 7 other Extra stores are in operation. There are 3 Extra stores located in Klang Valley which is Extra Cheras, Extra Shah Alam and Extra Selayang. The remaining Extra Stores are located in Ipoh, Plentong Johor Bharu and Extra Sungai Dua in Penang. The new concept store will combine the best practices of both Tesco and Makro businesses. The Tesco Extra store will also cater to all the needs of individual customers and families through its services and extra range of food and non-food products as well as the unbeatable prices that have become the hallmark of Tesco in Malaysia. Tesco Extra also has enhanced facilities in the store including disabled parking and toilets, parent and baby parking, all credit cards accepted, customer loading facilities, and different types of trolleys and checkouts to cater to the varying segment of customers.

Promotion & Education Element

In order to attract customer, Tesco stress daily and weekly promotions. They use various methods like, Marketing Communication Tools which includes print pamphlets, retails advertising and internet promotions. Huge billboards attract crowds, free parking are some of the lures used by Tesco seems to work in their favor. Tesco is very good at using design across their own label, especially strategically. Tesco is often used as one of the best examples of own brand label in the retail industry. Majority of consumers buy the basic Tesco brand as it is cheap and good value for money. The use of Tesco logo is consistent in each of the products design. Brand values of Tesco are successfully throughout Tesco own brand ranges demonstrated through experience and way finding system. Tesco uses design to give something back to customers for shopping at Tesco. As competition is so intense retailers such as Tesco use design to differentiate from the competitors.

Price & Other Outlays Element

An Every Day Low Pricing (EDLP) strategy of Tesco is more popular with shoppers than one driven purely by promotions, according to a recent survey in the UK. But a combination of the two is the best means of keeping shoppers happy. Pricing was a key strategy and selling point for Tesco. Low prices were adopted to maximize sales. Tesco’s value-added products at low prices attracted many customers. After the launch of ‘unbeatable value’ campaign in 1996, Tesco went in for massive price reductions. The company adopted the strategy of ‘Everyday Low Pricing’ (EDLP), while continuing its other promotional activities. The EDLP program aimed to regularize low prices for Tesco customers. Low prices were not merely a strategy used for the occasional sale, but on a regular, daily basis. Adopting the EDLP strategy demonstrated Tesco’s commitment to its customers, putting customer interests first.

Physical Environment Element

Tesco ensures that the moment the customer enters their stores; they should have a personal experience which amounts to proper lighting, proper sign boards, and neat employees who are educated about the products they sell, clear prices marked on the product. Special attention is given to cleanliness of both the employees as well as the stores. Special emphasis is given on training the staff whereby staffs are evaluated and rewarded according to their performance.

Process Element

Some of the key indicators that shows how strong their operation process is determined by the following,

– We try to get it right first time

– We deliver consistently everyday

– We make our jobs easier to do

– We know how vital our jobs are

– We always save time and money

People Element

The company’s Values are ‘No-one tries harder for customers’ and ‘We treat people how we like to be treated’. These values are interlinked and underpin everything employees do at Tesco. It understands that by managing our people well – in a culture of trust and respect – they will in turn try their hardest for customers.

By offering competitive pay and benefits and an opportunity to develop a long-term varied career with good training, they are able to keep employees motivated, committed and excited about working at Tesco.

They believe that people are the most important asset and it is essential that they feel rewarded for the work they do and supported in their development. They offer good pay across all our businesses, as well as benefits in each market that reflect employees’ priorities.

As a leading global company, Tesco aims to offer the very best training and development for all its employees. The Tesco Academy helps provide an opportunity to get on for all our people. It develops thousands of world-class leaders through excellent training in leadership, management and technical skills.

Productivity and Quality Element

Tesco believes that having strong, well trained professionals, better pay, strong process and good leverage on negotiation with supply chain, great products can deliver efficiency and quality through which ultimately the customer will benefit.

Improvement Needed

The company should start thinking towards online presence, as more people are becoming net savvy. They should build up a strong virtual warehouse where people can buy non perishable goods which can be shipped directly to the customers. This will reduce Tesco’s footprint, both from assess as well as environment point of view. Reducing the warehouse footprint due to virtual stores can derive monetary benefits to the company.

Comparison Study with Competitors

In this retail industry there is stiff competition between hypermarkets. Name such as Giant, Carrefour and Jusco are the biggest rival for Tesco Stores Malaysia to compete in the industry. This report will explain further regarding the Tesco Stores Malaysia rival.

Giant Hypermarket
In Malaysia, the name Giant has become synonymous with everyday low prices, big variety and great value. This has been underscored by few surveys conduct in Malaysia, which showed that Giant was perceived as the cheapest place, in Malaysia, to shop for everyday groceries beside Tesco. Giant holds second biggest share market in retail industry in Malaysia for the year of 2010 after Tesco.

Jusco

In order to be successful, it is vital for a shopping centre to have the right environment and tenant mix. Only then will customers be willing to spend endless hours here in pursuit of activities that entertain and help them to relax. Jusco provide laid back environment in their shopping complex. Customer feels free to shop not just that, they can also spend time with their family eating at the food court provided by Jusco. Jusco holds 22% of market shares and the third biggest after Tesco and Giant for the year of 2010.

Carrefour Malaysia

Carrefour’s success is based on the talent and motivation of its staff. To increase efficiency and competitiveness, and in order to improve as a retailer, the Carrefour Malaysia is about to transform themselves and redesign its organization, enhance synergies between sales and purchasing, and create new relationships between head offices, countries and stores. Carrefour still sustains in the market in Malaysia and has 15% of market share in retail industry for the year of 2010.

Conclusion
The success of the Tesco Stores Malaysia shows how far the branding and effective service delivery can come in moving beyond splashing one’s logo on a billboard. It had fostered powerful identities by making their retailing concept into a virus and spending it out into the culture via a variety of channels which are cultural sponsorship, political controversy, consumer experience and brand extensions.

In a rapidly changing business environment with a high competitors pressure Tesco have to adopt new expansion strategies or diversified the existing in order to sustain its leading market position in an already established retailing market. The company must constantly adapt to the fast changing circumstances. Strategy formulation should therefore be regarded as a process of continuous learning, which includes learning about the goals, the effect of possible actions towards these goals and how to implement and execute these actions. The quality of a formulated strategy and the speed of its implementation will therefore directly depend on the quality of Tesco’s cognitive and behavioral learning processes.

In large organizations as Tesco strategy should be analyzed and implemented at various levels within the hierarchy. These different levels of strategy should be related and mutually supporting. Tesco’s strategy at a corporate level defines the businesses in which Tesco will compete, in a way that focuses resources to convert distinctive competence into competitive advantage.

References

http://www.tesco.com.my

http://www.tesco.com.

Johnson, G., Scholes, K., Whittington, R., (2005) Exploring Corporate Strategy Text and Cases, 7th Edition, FT Prentice Hall

M.E. Porter, Competitive Advantage: Creating and Sustaining Superior Performance, Free Press, 1985

Jeannet, J., Hennessey, D.H, Global Marketing Strategies, 6th Edition, Houghton Mifflin

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