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Despite continuing revenue growth over the last few years, the defining characteristic of the UK supermarket sector is one of intense competition. ... This is best shown by the entry of a number of the leading chains into the financial services market, but is also demonstrated by the appearance of items such as books, clothing and electrical goods in supermarkets.
The UK supermarket sector was estimated to be worth around £66bn in 1997, an increase of 5% on 1996. ... Sainsbury, Asda and Safeway) alone account for 60% of all grocery sales in the UK. Over the last ten years, the UK food retailing sector has seen a steadily increasing level of industrial concentration, with the effect that the UK market is now comfortably the most concentrated in Europe. ...
The continuing popularity of supermarkets reflects the growth of the concept of ‘one-stop-shopping’, itself a consequence of changing lifestyles. ... Sainsbury to become the largest retailer in the UK and, after considerable initial hostility to the idea, Sainsbury was itself forced to introduce its own loyalty card in response. ... The company has set itself the objective of being the UK’s number two clothing brand (after Marks & Spencer) based on its ‘George’ range, named after its founder George Davis (the former head of Next and the man largely responsible for its emergence as a leading high street fashion chain). ... In most supermarkets, the sale of books and newspapers, Compact Discs (CDs) and electrical items as well as the provision of ancillary services such as dry cleaning is now commonplace.
Approximate Word count = 1284
Approximate Pages = 5.1
(250 words per page double spaced)
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