SEEKING to provide the best value to its customers, Tesco Stores (Malaysia) Sdn Bhd has improved its Tesco Value range of products.
The range is now called Tesco Everyday Value.
Tesco Malaysia chief executive officer Georg Fischer announced the rebranding at the company’s Mutiara Damansara hypermarket last week. According to Fischer, the company spent RM2mil over a period of a year to redevelop and repackage more than 400 products for the new house-brand range.
“After launching the Tesco Value range in 2004, we saw a positive response from our customers towards the products, prices and quality,” said Fischer.
“In our effort to further improve the way consumers experience our house-brand products, we have reformulated our products to give them better quality for better value.”
Fischer said that suppliers of the redeveloped products were put through a stringent selection to ensure that their products meet the highest quality standards.
“I am also proud to announce that in support of Malaysian-made products, a total of 70 Malaysian suppliers were appointed, making up 90% of the suppliers involved in developing this new range,” said Fischer.
He added that 85% of the local suppliers were also small and medium enterprises.
According to Tesco Malaysia commercial director Jason Godley, the launch of Tesco Everyday Value in Malaysia follows the success of the rebranding in its stores in the United Kingdom in 2012.
“Although customers are satisfied with our quality, we always strive to improve so we came up with a newer, more contemporary range and got customers to give their feedback on our redeveloped products prior to their launch,” said Godley.
Media in the United Kingdom reported Tesco overcame a dip in profits thanks to a boost in sales figures shortly after the rebranding and launch of Tesco Everyday Value there two years ago.
Likewise, Fischer is confident that the rebranding in Malaysia is well worth the investment and that they can expect a healthy sales boost.
Fischer also hinted at plans to open another four stores in Malaysia by the end of the year. The grocery retailer currently has six million members in its Tesco Clubcard loyalty programme and a total of 49 locations in Malaysia.