Tesco Tipped As Best Placed Retailer To Combat Recession

Tesco has been named as the UK retailer most likely to withstand the looming economic recession and potentially show growth during that time.
The UK’s largest supermarket chain has topped a “survivability index” produced by accountants BDO Stoy Hayward’s and retail analysts Verdict.
The measure shows which companies are best positioned to survive the downturn in consumer spending, taking into account factors such as customer targeting, branding, cost management and internet potential.
The research found that not only were several established companies well placed for the future, but also smaller businesses that focus on the importance of strong branding, customer needs and a well developed community based internet presence.
Clothing firm Boden was ranked second, followed by Selfridges, the Apple Store and John Lewis. Supermarket groups Waitrose and Sainsburys were also named in the top 10 list.
Commenting on the findings, BDO head of retail Stoy Howard said: “Those who implement strategies to react appropriately to changing circumstances will be the ones who emerge in the strongest position from the current difficulties.”
Verdict consulting director Neil Saunders added this is the “most challenging period” retailers have ever faced.
“Everyone will need to work much harder just to stand still, because the market is mature and intensely competitive.”
He concluded: “Being good will no longer be good enough to generate growth. Retailers that want to increase their sales will have to excel in every way.”