Tesco Announces Online Boost in Sales Revenue
Grocery giant Tesco has seen their web revenues rise by 14% in the 12 months preceding 27th February 2010. This has given their annual profits a 10.1% boost to £3.4 billion.
The increase in online sales included revenue streams generated by their additional sites launched last October - clothingatesco.com and tescoentertainment.com, with the latter generating over £1m worth of sales within a month of its going live to the public.
Meanwhile, their original grocery site tesco.com delivered more than a billion items to a million unique users in the 12 months to February. The site has been recently revamped and moved to a new platform that allows international shipping. Thus far, customers in the UK, Ireland and South Korea can order online. The ongoing plan however is to allow customers to buy online in every country that they have a presence, which includes stores in China, Japan and Turkey.
Tesco CEO, Terry Leahy, said, "By remaining focused on our strategy, we've weathered the economic storm well. Across the group, we've successfully adapted our cost structures and ranges to help customers save money when they've needed to and treat themselves when they've wanted to."