Tesco PLC is a British multinational grocery and general merchandise retailer with headquarters in Welwyn Garden City, Hertfordshire, England, United Kingdom. It is the third largest retailer in the world measured by profits and ninth-largest retailer in the world measured by revenues. It has stores in 8 countries across Asia and Europe and is the grocery market leader in the UK, Ireland, Hungary, Malaysia and Thailand.
Tesco was founded in 1919 by Jack Cohen as a group of market stalls. The Tesco name first appeared in 1924, after Cohen purchased a shipment of tea from T. E. Stockwell and combined those initials with the first two letters of his surname, and the first Tesco store opened in 1931 in Burnt Oak, Barnet. His business expanded rapidly, and by 1939 he had over 100 Tesco stores across the country.
Originally a UK grocery retailer, Tesco has diversified geographically since the early 1990s and into areas such as the retailing of books, clothing, electronics, furniture, toys, petrol and software; financial services; telecoms and internet services. The 1990s saw Tesco reposition itself; it moved from being a down-market high-volume low-cost retailer, to one which appeals across many social groups, by offering products ranging from its "Tesco Value" items to its "Tesco Finest" range. This broadening of its appeal was successful, and saw the chain grow from 500 stores in the mid-1990s to 2,500 stores fifteen years later.
|Subsidiaries||Tesco Stores Ltd. Tesco Bank Tesco Mobile Tesco Ireland Tesco Kipa Tesco Family Dining Ltd. Dunnhumby Spenhill|
|Headquarters||Tesco House Shire Park Kestrel Way Welwyn Garden City Hertfordshire AL7 1GA England|
|Key people||John Allan (Non-Executive Chairman) Dave Lewis (Group CEO)|
|Founded||1919; 98 years ago (1919) Hackney, London, England, UK|
|Products||Supermarket Hypermarket Superstore|
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Financial Services / Banking is 18.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If Tesco Bank sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of Tesco Bank with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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