Tesco 2013 Annual Report Download - page 7

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3
OVERVIEW BUSINESS REVIEW PERFORMANCE REVIEW GOVERNANCE FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2013
Report from the Chief Executive
I am pleased to have this opportunity to report on the past year, during which we have taken
some significant business decisions and laid down some important building blocks for the future.
I will share my perceptions of the year under the following headings:
• The wider context – adapting to lead the digital future
• The business in 2012/13 – a year of transition
• Setting financial disciplines for the future
• Driving future growth and returns
• Culture
• Management
The wider context – adapting to lead the digital future
It has been clear for some time that we are seeing a seismic shift in our industry and its pace
is accelerating. In 2012 global e-commerce activity reached $1 trillion. I’ve worked in retailing
for nearly 40 years but never in that time has there been a period of such profound and rapid
change as I see today. The digital age is transforming not just the way people shop, but also
the way they live their lives.
The opportunities this is creating are exciting. It provides the potential for Tesco to make
customers’ lives easier; to enable them to shop in whichever way suits them best; and it
enables us to offer them new products and services.
This plays to our strengths. Since Tesco was founded, we have always been pioneers and
innovators in retailing. Our central focus, our culture, is and has been to lead in understanding
and delivering what customers want, in the way they want it, at the time they want it.
Uniquely among our peers, we have a profitable dotcom grocery business. From drive-
through Grocery Click & Collect in the UK to our virtual shopping walls on the subway in
South Korea, we are introducing exciting innovations to improve the customer shopping
trip. Thanks to Clubcard and dunnhumby we have unique insights into how our customers’
behaviour is changing. Our new conversation with customers – through a variety of channels
– is about listening to what they want, to how they’re living their lives today, and then
adapting and building the business accordingly: as we have said for years, ‘Every Little Helps’.
“ I’ve worked in retailing for
nearly 40 years but never
in that time has there been
a period of such profound
and rapid change as I see
today. The digital age is
transforming not just the
way people shop, but also
the way they live their lives.”
Philip Clarke Chief Executive
Visit www.tescoplc.com/ar2013 to hear
more from Philip Clarke and other
members of the leadership team.