Tesco, the British-based international supermarket chain has reported only a 2 per cent rise in like-for-like UK sales over the past three months, its worst performance since the 1990s. People are abandoning Britain’s biggest supermarket in favour of its rivals that offer cheaper prices.

Tesco has begun to cut its prices. The discount supermarket sector is growing because of the economic turmoil: the rising inflation push shoppers to buy food & drink, clothing and electronics in the stores that offer the best deals.
Even if inflation is now falling back, the Bank of England is expected to cut interest rates to encourage shoppers to spend in the run-up to Christmas. Overall, total UK sales grew 5.9 per cent and group revenue across Tesco rose by 11.7 per cent over the past 3 months.

In changing times, companies must be prepared to change too in order to adapt to the current economic climate.