Tesco Sees Customers Switch from Aldi For First Time In A Decade

July 10, 2020

The “new” normal is a good time for Tesco. For the first time in a decade, Tesco claims that it has experienced people switching from Aldi for the first time in more than a decade with the combination of its new price match scheme and shift in consumer behavior recently. The stock has climbed 1.6%, following encouraging first-quarter results that suggest the company is well-positioned to capitalize on consumer shifts. The retailer doubled its online capacity from 600,000 to 1.3 million weekly delivery slots in the space of just five weeks. Online sales grew 49% in the first quarter. The pandemic has boosted sales for the supermarket giant, but it has forced them to spend more as well. Regardless, it’s winning the long term battle. 

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