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Bullish Tesco aims to double market share to 20% by 2003. (News).
Tesco is putting in place ambitious plans to capture a 20% market share on all chart music sold by the end of next year.
The supermarket's target, which translates to an overall market share of 8-9%, follows a year in which it says its chart share has already grown to more than 10% and total music share to around 6%.
Tesco's senior buying manager for music and books Alan Hunt told a suppliers conference hosted by its wholesaler Entertainment UK last Thursday that it had already been achieving share of around 14% in recent weeks. This followed a move to increase its chart commitment from Top 50 to Top 60 across the chain last month. It is now planning to further expand its chart commitment ahead of the Christmas period, offering Top 100 artist albums and Top 50 compilations in its biggest 50 Tesco Extra stores.
Entertainment category director Steve Garton says its growth ambition is perfectly attainable. "It is a challenging target, but it's achievable," he says. "If we get to 18%, I will be delighted. But we can achieve 20% within 18 months."
Garton says the growth will be driven by a massive expansion plan in which the 702-store UK chain will double in size by the end of 2007.
Some 20% of the chain's entertainment sales come through its 60 massive Tesco Extra stores, of which it plans to build a further 100 over the next five years. Garton ...
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