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1、Tesco in Asia,November 2008,Tesco in ChinaKen Towle,CEO,RealGDPgrowth(%),GBP,4,Agenda China a recap How are we doing?Tesco China StrategyA quality,fast-growth businessTesco Operating Model provides the platformRegional approach that leverages scaleFreehold Shopping CentresIntegrated supply chain and
2、 sourcing Shenyang3China Economy,One of the worlds largest andmost dynamic economies13,Urban disposable earnings(and wagecosts)seeing ongoing rapid growth1200,12,11.6,11.9,1000,11109,10.1,10.4,9.8,8.5,8.7,800600,8,400,2004,2005,2006,2007,2008(F),2009(F)2010(F),2000,2001,2002,2003,2004,2005,2006,2007
3、,Per Capita Annual Disposable Income,China GDP was 24.7 trillion yuan(GBP2.02 trillion)in 2007 GDP growth has been in excess of 10%This will slow,but is still expected to be,Disposable incomes have increased by115%in last 8 years Projected to double again in the next 5years,healthy China is projecte
4、d to overtake Japan tobecome the worlds second largest economyby 2015Source:National Statistics Bureau,EIU,%UrbanPopn,Popn(m),5,6,China People,A rural society seeing rapidurbanisation,The reliance on bicycles is giving way tocars,50454035302520,650600550500450400350300250200,80706050403020100,1995,1
5、997,1999,2001,2003,2005,2007,2004,2005,2006,2007,2008,2009,%Urban,Population(m),Total cars on Chinas roads(m),Currently 600 million of Chinas 1.3 billionpopulation lives in cities Recent urban growth equates to 13 millionpeople moving into cities each year By 2020 a further 90 million people willhav
6、e migrated to cities such as Shenyang,Car ownership is low in China with 2 carsper 100 population(cf.25 in Central Europe)But car ownership levels have doubled inthe last 4 years And they continue to grow in excess of 15%per annum,Source:SSB/Statistic year bookChina RetailIn the top 15 cities,hyperm
7、arkets now account for 1 out of every 3 RMBspent on grocery,2001,717202828,2004,913262230,2007,316322029,Others,Supermarket/CVs,Hypermarket,Grocery/Food St,Wholesale,Hypermarkets are the most successful modern trade format market share of grocery has increased from20%to 30%over the last 6 years But
8、traditional wet markets are still part of peoples everyday shopping routine about 60%of Tescocustomers also use wet markets regularly for fresh productsSource:TNS Worldpanel China 15 cities,How are we doing?,2004,2008,Customers per weekSales per week(GBP)HypermarketsExpressRegionsDCsTeamIncreased sh
9、are to 90%(from 50%)inDecember 2006Entered South 2006Re-branded the business to Tescoin 2007Member Card 2007,2m7m2502111,000Tesco Own Brand 2007Fresh DC 2007Entered Beijing 2007Express Trial 2008,3.7m15m5853321,000,7Tesco China Strategy A quality,fast-growth business Tesco Operating Model provides t
10、he platform Regional approach that leverages scale Freehold shopping centres Integrated supply chain and sourcing8,A quality,fast-growth business,Tesco,“Your local store thats part of the Tesco,family”Delivering on the customer promises Locations that succeed downtown and in newgrowing areas9Locatio
11、ns that succeed10,A quality,fast-growth business,Tesco,“Your local store thats part of the Tesco family”,Delivering on the customer promises Locations that succeed downtown and in new growing areas Hypermarket designed to be easy to shop and give customers what theywant Malls that complement the hyp
12、ermarket Strengthening new store programme focused on organic growth Delivery on the people promises to ensure we have the people ready forfaster growth11The customer promises The prices are good for me I can get what I want I can trust what I buy Shopping is pleasant and easy I dont queue The staff
13、 are great12,The customer promises,13,Tesco Operating Model the platform,Standard suite of operating systems;integrated with standard operating,processes,Supported by Organisation Design Blueprints,Developed and implemented by Group experts but with country,accountability,China implemented Phase 1 i
14、n 2007,same systems and ways of working across all stores and regions centralised Finance and IT,developed change model for Phase II,Enables significant productivity in people and capital Customers are the real winners,14,Customers are the real winners,15,Regional approach that leverages scale,Benef
15、its of a country with the challenges of a,continent,Regional Vice President with country team,accountable for growth and results,16,Regional approach that leverages scale,17,Regional approach that leverages scale,Benefits of a country with the challenges of a continent Regional Vice President with c
16、ountry team accountable for,growth and results,Shared services across China,Leveraging scale on a first among equals principle Everyone is connected to the customer,In 2009 we will also be present in Shandong and Fujian Shandong 94m people,GDP of RMB 2,589bn,GBP 212bn,First store in 2009,will emerge
17、 as 4th region,Fujian 34m people,GDP of RMB 755bn,GBP 62bn,First store in 2009,18,Regional approach that leverages scale,19,Regional approach that leverages scale,20,Regional approach that leverages scale,21,Freehold Shopping Centres,A step-change from the leasehold business:,Conforming store,Destin
18、ation mall anchored by the hypermarket with retail and leisure,facilities,Car parks that will cope with rapid growth in car ownership Mixed-use schemes to secure sites as necessary,A sister-company run and resourced by property professionals Pro-active approach with local authorities and city planne
19、rs Compliments leasehold development and underpins step-change Customers are the real winners Take a tour,22,Integrated supply chain,A core requirement of the Operating Model,Enables much better control of range,quality,inventory and,costs,Provides transparency and facilitates proper segregation of,
20、duties,Enables direct sourcing at country,Asia and global levels Existing grocery DC serves East region replaced with,freehold DC in 2009/10,Third party non-food DC serves all regions,Fresh DC serves East region,with North East fresh DC,opening later this year,23,Integrated supply chain,24,Integrate
21、d supply chain,A core requirement of the Operating Model,Enables much better control of range,quality,inventory and costs Provides transparency and facilitates proper segregation of duties Enables direct sourcing at country,Asia and global levels,Existing grocery DC serves East region replaced with
22、freehold DC in,2009/10,Third party non-food DC serves all regions,Fresh DC serves East region,with North East fresh DC opening later this,year,Network of DCs planned and grows with the business Asia joint buying for hardlines and softlines,International sourcing for fruit includes Chinese suppliers
23、Developing partners for local growing and sourcing of vegetables,25,Integrated supply chain,26,27,Shenyang City in Liaoning Province Liaoning province in north-east China has a population of 42 million people The provincial capital is Shenyang with urban population of 4.5 million 10th largest city i
24、n China and one of 35 cities in China with population greaterthan 2 million people Growth in GDP,disposable income&retail sales has outstripped Chinasurban average in recent years The citys key industries are aircraft&car manufacturingShenyang GDP Growth&Retail Sales Growth2018161412108,1999,2000,20
25、01,2002,2003,2004,2005,2006,2007,GDP Growth,Retail Sales Growth,Source:National Statistics Bureau of ChinaTesco in Shenyang&Liaoning Province Hymall entered Shenyang in December 2000 Now Tesco trades from 5 hypermarkets in the city Tesco has a total of 11 trading stores in Liaoning province market l
26、eaderamong international operators A strong opening program is planned for 2009 We are targeting expansion in all 14 cities in the Province and have strongsupport from the Province level governmentNumber of trading stores,Shenyang,Liaoning,TescoCarrefourWal MartRT Mart,562228,11955,Tesco in Asia,November 2008,
