THIS IS WHY TESCO WANTS TO SHUT DOWN ITS MEAT COUNTERS
According to Livekindly, Tesco the UK’s leading grocery store chain, may close its meat, deli, and fish counters in the near future.
Exact details have not been announced but sources say that if Tesco goes ahead with the plan, 732 of the chain’s larger stores will be affected, The Guardian reports.
It can be speculated that the closures are part of the plan to cut £1.5 billion from Tesco’s cost base in a bid to recover from lost profits in a 2014 accounting scandal.
Tesco’s Plant-Based Food
Tesco has become a leader in vegan product launches over the past year, appealing to the rising consumer demand for healthier, more sustainable food. Its own-brand vegan ready-meal range, Wicked Kitchen, launched earlier last year and soon exceeded sales projections by more than double. The Wicked Kitchen meals were given partial credit for Tesco’s revenue spike last April and by August, Tesco shoppers had purchased four million of the vegan dishes.
Following the “phenomenal” consumer response, the grocery store chain announced it would add 26 new vegan products to the range. “At the start of the year, I said that veganism was going mainstream, and – as plant-based options are taking over the supermarket shelves – that belief is fast becoming a reality,” said Wicked Kitchen creator Derek Sarno at the time.
The grocery store chain was also the first in the UK to stock the Beyond Burger, a realistic vegan burger that “bleeds” like meat, made by California-based brand Beyond Meat.
“We know from our own data that flexitarianism is on the rise and many more customers are dabbling in cutting out meat for a day or so during their weekly diet,” said Tesco product development director, Kate Ewart. Even long-standing vegetarian brands like Quorn are taking notice of the fact that vegan products are not as niche as they once were. Over the summer, the company announced it had invested £7 million into research and development to create new vegan products.
Tesco is expected to make an announcement on the fate of its meat, deli, and fish counters later this week.