Apr 10, 2019
Is Amazon the undoing of Tesco? Or is Tesco doing an Amazon?
If the supermarket achieved a critical mass from its estimated 17 million Clubcard loyalty scheme members, and fast-growing users of Tesco Pay+ app, that could be a nasty blow for Amazon's ambitions. Tesco Pay+ app usage continues to grow, and now enables payment and Clubcard points functionality on a phone. Tesco Bank's own app has been downloaded by more than 1.2 million users. More lending may add to bad debt and impairment levels that are already rising at Tesco Bank. Still, with 150,000 new Tesco shoppers eligible for a Clubcard in the past year, Tesco is well ahead of Amazon's estimated 15m Prime membership base.
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