The supermarket industry is not only a staple of our everyday lives, it should be a staple or your A-level business studies toolkit. It is a fascinating example of how competitive structure is important to the underlying profitability of a firm, and also how the functional areas of finance, marketing, operations and people (FMOP) can be interlinked to develop arguments and analysed within the exam room. We all need to shop on a regular basis and this means that we can apply what we learn in the classroom to what we see in the aisles of our local supermarket.
While the UK’s big four supermarkets have suffered a decline in sales and lost market share throughout 2014, competitors Aldi, Lidl and Waitrose have all experienced growth. Out of these three retailers, Waitrose is the only ‘premium’ supermarket.
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