Twenty years ago UK supermarket chain Tesco was an also ran.
A decade ago it was the market leader.
Today Tesco is in trouble again as low cost European competitors like Aldi and Lidl have chipped away the British majors’ market share.
A few weeks later, Tesco shares plummeted on revelations the company’s profit guidance had been overtstated by 250 million pounds with the company’s chief executive Dave Lewis announcing several executives have been stood down as auditors investigate the descrepencies.
Tesco is a very good example of how quickly how competitors can come from behind in today’s marketplaces; first Tesco itself during its 1990s rise and then its crash in recent years.
We live in rapidly changing times. Incumbents and market leaders shouldn’t assume their positions are safe.