Former Tesco CEO Sir Terry Leahy has called on retailers to tap into consumers’ demand for convenience and also make it easier and more fulfilling for customers to use their products.
Talking at the Retail London Conference in the UK’s capital yesterday, the senior retail industry figure suggested that simplicity is a key part of any expansion strategy and offered companies on tips for growth.
“People have more choice and more opportunity in their lives, but choice is complex and confusing,” he told delegates at the event, which was held at Hilton Park Lane.
“Don’t just offer consumers loads of choice, go beyond the product and work out what is useful to consumers. Make your products quick and satisfying to use.”
Sir Terry also indicated that people are currently hugely motivated to look and feel good, meaning that businesses promoting healthy lifestyles and making customers feel better about themselves will surely be in demand.
Leahy left Tesco at the start of March after 14 years as the grocer’s CEO, handing over the reins to the supermarket’s international boss Philip Clarke.
In the months directly preceding his departure Leahy made a number of commitments to eco-friendly retailing, including announcing that Tesco will soon be opening two zero-carbon stores in Thailand and the Czech Republic.
Last month the UK’s number one grocer installed four wind turbines to power three of its distribution centres in the UK, and Leahy was keen to express the importance of green practices at yesterday’s conference.
“People often ask if businesses can be green and grow at the same time,” he stated.
“The truth is you won’t grow unless you’re green. Customers and legislation will demand that the company you offer them is compatible with sustainability.”