It is reported that Tesco is looking to win back customers defecting to cheaper rivals. As prices rocket, the German discount stores probably think all their Christmases have come at once. Long seen as downmarket stores for the poor or the plain tight-fisted, more affluent customers are now flocking to Aldi and Lidl.
So what can retailers do to attract new customers, and maintain the loyalty of their existing ones? Retailers are missing a trick by not getting better value out of their investment in store fit-outs. Imaginative, innovative design can deliver a cost-effective retail experience that will outlast any short-term price cuts.
Philip Chung, Retail consultant, Hove, East Sussex BN3 3JQ