$10,810 $m
Despite reporting increased revenue for the financial year to February, 2012 proved to be a difficult year for Tesco. The supermarket giant lost market share in the U.K. and began discussions to potentially retreat from its Fresh & Easy venture in the U.S. The “Big Price Drop” performance was lackluster and Tesco’s value proposition has been weakened by Lidl, Aldi and Asda owning the space more convincingly. However, Tesco has been proactive in the face of these setbacks. The brand remains the clear grocery market leader and has invested significantly in improving its service offering. Summer 2012 also saw Wieden & Kennedy appointed to handle its advertising after splitting from long-term partner, The Red Brick Road. The brand’s customer insight remains strong through its partnership with Dunnhumby, and with a strategy to grow the U.K. core, Tesco feels confident looking to 2013.