Do you know about - From Lemons to Loans - The Changing Face of Supermarkets
Heights Finance Corporation! Again, for I know. Ready to share new things that are useful. You and your friends.Thirty years ago we would shop in local Town Centres. We'd visit the local butchers, greengrocers, stray nearby the open shop and if we felt rich we'd have an amble nearby the local furniture and furnishings store. Once a month we'd catch the bus, or if we were lucky, drive our car to the local superstore. As most towns only had one, we didn't have a option which one to visit.
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Once at the supermarket, we'd pass native British vegetables with angled mirrors above them to make it look like they had more stock. We'd pass fruit and salad where the most exotic items on display were dates and pomegranates and maybe once a year they'd get a shipment of blood oranges. We'd stray nearby fridges chilling two brands of yoghurt, two types of sausage - whether beef or pork and glass bottled milk from a local farm. The widest option came in cheese where there would be up to ten separate types and two of them would be foreign. We'd walk down aisles with Tate and Lyle sold right from the pallet and passed rows of tins where the total foreign food contribution was the ingredients of our Saturday Tea Time Spag Bol.
Then we'd hike to the twenty deep check-out and not complain about the half an hour wait, we'd talk to our queue neighbours and be more concerned about our tiny ones begging for one of the delights temptingly on display next to the cash register.
Then possibly twenty to twenty-five years ago the Supermarkets realised they could sell more than just food. They started to sell clothes, electrical goods, tools, kitchenware, records, videos and plants. Supermarkets became bigger and the shelves became wider to adapt the ever-growing option of brands. In the yoghurt chillers there were now varieties aimed at the health conscious, dieters, children, the older generation and babies.
The nations passion for cookery programmes and celebrity chefs accelerated the foreign contribution and the supermarkets merrily began to stock high margin fruits, vegetables and sauces from all four corners of the planet.
Supermarket owners became bigger and bigger and the cleverest ones gobbled up most of their competitors. Super Store groups that had been nearby for generations, whether fell on their swords or had their fascia changed to reflect new ownership.
Then supermarkets introduced loyalty cards. The unsuspicious public failed to realise the supermarkets could now article a strikingly high estimate of facts about the their lifestyles. Not only did the supermarkets know what someone was going to have for dinner, they could estimation family income, affluence and even make educated guesses about a Customers health and normal well being.
Attempting to grow even more the supermarkets employed highly mighty analysts who could tell them the most efficient places to display products and how they could maximise special offer sales. A whole new science of stock placement was established. High margin goods were put at hand height, low margin goods towards the floor. The aisles were ordered so that not too many high cost items were grouped together and discounted items were located deeper into the supermarket than the full cost item was displayed. Staples, like bread, were also located in latter aisles in the hope that people would spend more in the earlier isles, but still maximise what they put in the trolley by having to still obtain necessities.
Then possibly eight to nine years ago the increase started to stagnate. The non food stock contribution was at its top ever and the supermarket groups had not only wiped out the mini markets, they had also wiped out a necessary estimate of Diy chains, newsagents, clothes stores, article and video stores and chemists. The food contribution was at its top ever and the pile them high, low stock keeping unit, sell them cheap groups started to fall by the wayside or were gobbled up and spat out as mainstream supermarket stores.
The increase had been phenomenal. Double-digit increase had lasted several decades, the shareholders wanted more and the City staggering more. The supermarkets recognised they had fully saturated their stores with all the stock offerings they could potential cram in and realised that sustained increase would only come from contribution 'non stock items'.
Then dawned a new era - supermarkets started to offer loans, insurance, banking, prestige cards, gas, electricity and movable phones. Much of this done with the backing of the Super Brands they had created. Customer loyalty and confidence in the supermarkets products couldn't possibly be higher. Brands are now used to sell anyone from a box of tea bags up to a £500,000 secured home loan.
The thing that consumers fail to realise is that in most transaction the supermarket is only acting as an intermediary or non value adding introducer to a third party. In the case of loans, they are branded as the supermarkets own, but Asda is in effect acting as an introducer for The Funding Corporation, Sainsburys for relaxation Finance and Tesco for the Royal Bank of Scotland.
The supermarkets aren't alone in playing this game, entities like the Rac now act as an introducer to The Funding Corporation and in up-to-date weeks Harvey World trip now act as a secured loans introducer for Promise Finance.
Long gone are the days when we would visit a specialist to supply a specialist stock and as the Goliaths grow stronger, more and more smaller enterprises will fall by the wayside.
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