Tesco prices online leaps and bounds

p00hsticks

diystarter7 said:

wolvoman said:

diystarter7 said:

IMO, these retailers are profiteering from us.

thanks

They're really not.
They're getting some increased trade from people trading down from going for meals, but their margins are still wafer thin.

Is doubling ones profit during these times acceptable? EG from a billion to about over 2 billion?

Tesco's Financial year end is at the end of February.

So the 'doubling ones' profits you refer to was the increase from financial year 2020-1 (which was strongly impacted by the pandemic and so saw a significant reduction in profit from the previous year) to finanical year 2021-22. It did not occur during 'these times' but was mainly due to the re-emergence of the world from the pandemic.  

It's half year profits in August 2022 were down 30% and their current full year forecast is for only a slight rise in profits from the previous year - which may or may not actually happen. 

https://www.voxmarkets.co.uk/articles/tesco-half-year-results-low-everyday-prices-and-that-s-just-the-shares-bf9f863/

So if by 'these times' you are referring to the current cost of living crisis, which was largely precipitated by the escalation of the War in Ukraine in February 2022, then the hard figures would not indicate that Tesco is 'profiteering' by your definition - that is 'making or seeking to make an excessive or unfair profit, especially illegally or in a black market'

sarah1972

diystarter7 said:

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

Thanks - similar weight to morrisos close to use and we foot shop there once a week and our kids a few houses away have a Morrisons delivery - as we do tesco on the weekend online they do mid week Morrisons we do check and share shopping but prices re food leaps and bounds.

We don't do Waitrose anymore as its over hyped and priced - we find tesco products like fresh dtuff/greens as good as any other s/markets

I appreciate you sharing your thoughts. Thanks

(ps - like most we are lucky that we do bulk buy offers and do have two large FF's but seeing prices go up like that, doe hurt - so much so re Tescos bleating they are helping their customers.)

I find Morrisons is more expensive than Tesco over all. 

Never understood why people buy bunched coriander though, I buy the plant and repot it. Lasts me weeks and then in the summer I plant in the garden but if I need more, Asda is £1 a bunch. 

Personally I find Waitrose is definitely not over hyped and priced at all, quite a lot of their products are price matched to other supermarkets but it does need checking. 

Morrisons is 14p/10g for bunched coriander and Tesco is 13p/10g for bunched or 12p/10g for bagged so not sure why you are singling Tesco out when Morrisons is more expensive. 

It’s a sign of the times sadly, all supermarkets are going up and up in price. Hopefully in the summer a lot will be growing their own if they are lucky enough to have the space. I certainly am to save a few ££

Hi


IMO, these retailers are profiteering from us.

thanks

Of course they are, they would go out of business if they weren’t earning a profit 🤷🏻‍♀️

Not sure it’s actual profiteering, their prices will be going up too but if you firmly believe they are then vote with your feet and use an alternative. 

Hi

Apols for you not understanding the definition of "profiteering."  'Profiteering' is the practice of making or seeking to make an excessive or unfair profit, especially illegally or in a black market and not as you stated.

About "voting with feet" or online, call me cynical but just look at the major 5 retaliers and you will note their prices on the whole are almost the same.

Thnaks

I am fully aware of the definition of profiteering thank you.!  I also disagree with you that they are profiteering. 

Who said you had to go to the major 5 retailers ? Butchers for meat, greengrocers for fruit & veg, Aldi, Lidl.

As previously mentioned, have you tried Asda? Quite a lot cheaper in my opinion 

diystarter7

calleyw said:

diystarter7 said:

You refer to tesco's profits as "wafer think."

Supermarkets profit margin is between 2-7% that is small for a business but their turn over is high because people have to eat and drink hence they make a profit. Article from 2019 states the profit margin https://www.theguardian.com/business/2019/mar/05/long-read-aldi-discount-supermarket-changed-britain-shopping

And they lose money on every home delivery/click and collect. Every home delivery is -15% margin and click and collect is -5% margin yes that is minus sign

 https://www.thisismoney.co.uk/money/markets/article-9173751/Online-grocery-shopping-took-year-profitable.html

Hi

The "minus sign," they do that to undermine local shops so anyone and everyone that can spend the min amount is looking towards them.  

I ask you this. How long does a corner shop survive on a -5%?

The bottom line is tesco doubled its profits, not every area is going t make a profit from the outset and or will go up and down. They boulbed their profits to over 2 billion

Thanks

diystarter7

maman said:

Not specifically for your coriander but for stores for the freezer, it might be worth having a look at Ocado. They have 25‰ off your first purchase. I just did one and stocked up on fish and meat. Your family could do the same as a different household.

Personally I do my main shop in Aldi and bits and pieces of favourites/offers from other stores. Im fortunate that I have all supermarkets in a 3 mile radius (except Morrison's which I only visit when I'm that end of the city). 

Good morning
Many thanks but we have used them and others on my and Mrs D's cc's for the first shop and bult bought washing powders.deoderants,tea bags etc that were discounted and got the extra off like you posted. I think we go 20 quid off or something from all of them.
Appreciated
Thanks

diystarter7

p00hsticks said:

diystarter7 said:

wolvoman said:

diystarter7 said:

IMO, these retailers are profiteering from us.

thanks

They're really not.
They're getting some increased trade from people trading down from going for meals, but their margins are still wafer thin.

Is doubling ones profit during these times acceptable? EG from a billion to about over 2 billion?

Tesco's Financial year end is at the end of February.

So the 'doubling ones' profits you refer to was the increase from financial year 2020-1 (which was strongly impacted by the pandemic and so saw a significant reduction in profit from the previous year) to finanical year 2021-22. It did not occur during 'these times' but was mainly due to the re-emergence of the world from the pandemic.  

It's half year profits in August 2022 were down 30% and their current full year forecast is for only a slight rise in profits from the previous year - which may or may not actually happen. 

https://www.voxmarkets.co.uk/articles/tesco-half-year-results-low-everyday-prices-and-that-s-just-the-shares-bf9f863/

So if by 'these times' you are referring to the current cost of living crisis, which was largely precipitated by the escalation of the War in Ukraine in February 2022, then the hard figures would not indicate that Tesco is 'profiteering' by your definition - that is 'making or seeking to make an excessive or unfair profit, especially illegally or in a black market'

Hi

Not to worry as it was "doubling profits" and I was clear on that. As you are doubting me, I will post a very credible link
(I am fully aware they are there to make profits like others but to bleat on about they care during covid and doubling profits leaves me a bit sceptical )

Quot from link

Total revenues for the UK’s biggest supermarket, which proved to be a pandemic winner by taking a share from rivals and boosting online sales, rose by 6% to £61.3bn as pre-tax profits jumped from £1.1bn to £2.2bn in the year to the end of 26 February.

https://www.theguardian.com/business/2022/apr/13/tesco-profits-double-but-supermarket-warns-of-impact-of-soaring-inflation

Thanks

diystarter7

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

Thanks - similar weight to morrisos close to use and we foot shop there once a week and our kids a few houses away have a Morrisons delivery - as we do tesco on the weekend online they do mid week Morrisons we do check and share shopping but prices re food leaps and bounds.

We don't do Waitrose anymore as its over hyped and priced - we find tesco products like fresh dtuff/greens as good as any other s/markets

I appreciate you sharing your thoughts. Thanks

(ps - like most we are lucky that we do bulk buy offers and do have two large FF's but seeing prices go up like that, doe hurt - so much so re Tescos bleating they are helping their customers.)

I find Morrisons is more expensive than Tesco over all. 

Never understood why people buy bunched coriander though, I buy the plant and repot it. Lasts me weeks and then in the summer I plant in the garden but if I need more, Asda is £1 a bunch. 

Personally I find Waitrose is definitely not over hyped and priced at all, quite a lot of their products are price matched to other supermarkets but it does need checking. 

Morrisons is 14p/10g for bunched coriander and Tesco is 13p/10g for bunched or 12p/10g for bagged so not sure why you are singling Tesco out when Morrisons is more expensive. 

It’s a sign of the times sadly, all supermarkets are going up and up in price. Hopefully in the summer a lot will be growing their own if they are lucky enough to have the space. I certainly am to save a few ££

Hi


IMO, these retailers are profiteering from us.

thanks

Of course they are, they would go out of business if they weren’t earning a profit 🤷🏻‍♀️

Not sure it’s actual profiteering, their prices will be going up too but if you firmly believe they are then vote with your feet and use an alternative. 

Hi

Apols for you not understanding the definition of "profiteering."  'Profiteering' is the practice of making or seeking to make an excessive or unfair profit, especially illegally or in a black market and not as you stated.

About "voting with feet" or online, call me cynical but just look at the major 5 retaliers and you will note their prices on the whole are almost the same.

Thnaks

I am fully aware of the definition of profiteering thank you.!  I also disagree with you that they are profiteering. 

Who said you had to go to the major 5 retailers ? Butchers for meat, greengrocers for fruit & veg, Aldi, Lidl.

As previously mentioned, have you tried Asda? Quite a lot cheaper in my opinion 

Hi

Thanks for confirming you are aware of the meaning but in your post you contradicted that by confusing "profiteering" with "profits"

Where did I say I had to go to 5 retailers? I did not so I am confused why you have said that.

Thanks

sarah1972

diystarter7 said:

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

Thanks - similar weight to morrisos close to use and we foot shop there once a week and our kids a few houses away have a Morrisons delivery - as we do tesco on the weekend online they do mid week Morrisons we do check and share shopping but prices re food leaps and bounds.

We don't do Waitrose anymore as its over hyped and priced - we find tesco products like fresh dtuff/greens as good as any other s/markets

I appreciate you sharing your thoughts. Thanks

(ps - like most we are lucky that we do bulk buy offers and do have two large FF's but seeing prices go up like that, doe hurt - so much so re Tescos bleating they are helping their customers.)

I find Morrisons is more expensive than Tesco over all. 

Never understood why people buy bunched coriander though, I buy the plant and repot it. Lasts me weeks and then in the summer I plant in the garden but if I need more, Asda is £1 a bunch. 

Personally I find Waitrose is definitely not over hyped and priced at all, quite a lot of their products are price matched to other supermarkets but it does need checking. 

Morrisons is 14p/10g for bunched coriander and Tesco is 13p/10g for bunched or 12p/10g for bagged so not sure why you are singling Tesco out when Morrisons is more expensive. 

It’s a sign of the times sadly, all supermarkets are going up and up in price. Hopefully in the summer a lot will be growing their own if they are lucky enough to have the space. I certainly am to save a few ££

Hi


IMO, these retailers are profiteering from us.

thanks

Of course they are, they would go out of business if they weren’t earning a profit 🤷🏻‍♀️

Not sure it’s actual profiteering, their prices will be going up too but if you firmly believe they are then vote with your feet and use an alternative. 

Hi

Apols for you not understanding the definition of "profiteering."  'Profiteering' is the practice of making or seeking to make an excessive or unfair profit, especially illegally or in a black market and not as you stated.

About "voting with feet" or online, call me cynical but just look at the major 5 retaliers and you will note their prices on the whole are almost the same.

Thnaks

I am fully aware of the definition of profiteering thank you.!  I also disagree with you that they are profiteering. 

Who said you had to go to the major 5 retailers ? Butchers for meat, greengrocers for fruit & veg, Aldi, Lidl.

As previously mentioned, have you tried Asda? Quite a lot cheaper in my opinion 

Hi

Thanks for confirming you are aware of the meaning but in your post you contradicted that by confusing "profiteering" with "profits"

Where did I say I had to go to 5 retailers? I did not so I am confused why you have said that.

Thanks

No contradiction on my part but let’s agree to disagree. 

To quote your 5 retailers…….. “ About "voting with feet" or online, call me cynical but just look at the major 5 retaliers and you will note their prices on the whole are almost the same”. 

But maybe you forgot you said that, anyway have a nice day.  

diystarter7

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

sarah1972 said:

diystarter7 said:

Thanks - similar weight to morrisos close to use and we foot shop there once a week and our kids a few houses away have a Morrisons delivery - as we do tesco on the weekend online they do mid week Morrisons we do check and share shopping but prices re food leaps and bounds.

We don't do Waitrose anymore as its over hyped and priced - we find tesco products like fresh dtuff/greens as good as any other s/markets

I appreciate you sharing your thoughts. Thanks

(ps - like most we are lucky that we do bulk buy offers and do have two large FF's but seeing prices go up like that, doe hurt - so much so re Tescos bleating they are helping their customers.)

I find Morrisons is more expensive than Tesco over all. 

Never understood why people buy bunched coriander though, I buy the plant and repot it. Lasts me weeks and then in the summer I plant in the garden but if I need more, Asda is £1 a bunch. 

Personally I find Waitrose is definitely not over hyped and priced at all, quite a lot of their products are price matched to other supermarkets but it does need checking. 

Morrisons is 14p/10g for bunched coriander and Tesco is 13p/10g for bunched or 12p/10g for bagged so not sure why you are singling Tesco out when Morrisons is more expensive. 

It’s a sign of the times sadly, all supermarkets are going up and up in price. Hopefully in the summer a lot will be growing their own if they are lucky enough to have the space. I certainly am to save a few ££

Hi


IMO, these retailers are profiteering from us.

thanks

Of course they are, they would go out of business if they weren’t earning a profit 🤷🏻‍♀️

Not sure it’s actual profiteering, their prices will be going up too but if you firmly believe they are then vote with your feet and use an alternative. 

Hi

Apols for you not understanding the definition of "profiteering."  'Profiteering' is the practice of making or seeking to make an excessive or unfair profit, especially illegally or in a black market and not as you stated.

About "voting with feet" or online, call me cynical but just look at the major 5 retaliers and you will note their prices on the whole are almost the same.

Thnaks

I am fully aware of the definition of profiteering thank you.!  I also disagree with you that they are profiteering. 

Who said you had to go to the major 5 retailers ? Butchers for meat, greengrocers for fruit & veg, Aldi, Lidl.

As previously mentioned, have you tried Asda? Quite a lot cheaper in my opinion 

Hi

Thanks for confirming you are aware of the meaning but in your post you contradicted that by confusing "profiteering" with "profits"

Where did I say I had to go to 5 retailers? I did not so I am confused why you have said that.

Thanks

No contradiction on my part but let’s agree to disagree. 

To quote your 5 retailers…….. “ About "voting with feet" or online, call me cynical but just look at the major 5 retaliers and you will note their prices on the whole are almost the same”. 

But maybe you forgot you said that, anyway have a nice day.  

Hello again

Apols, but I stand by what you said and it was contradictory, clearly so as making "profit" is not the same as "profiteering."

You have misread my post, not to worry as I will try to make clear.  I was saying that top 5 retailers/supermarkets are often same/sim,ar process.

I also said "we foot shop Morrison" etc as Tesco is our main shop and online.

I hope that is clear.

Please have a nice weekend 

Thnaks

jon81uk

diystarter7 said:

calleyw said:

diystarter7 said:

You refer to tesco's profits as "wafer think."

Supermarkets profit margin is between 2-7% that is small for a business but their turn over is high because people have to eat and drink hence they make a profit. Article from 2019 states the profit margin https://www.theguardian.com/business/2019/mar/05/long-read-aldi-discount-supermarket-changed-britain-shopping

And they lose money on every home delivery/click and collect. Every home delivery is -15% margin and click and collect is -5% margin yes that is minus sign

 https://www.thisismoney.co.uk/money/markets/article-9173751/Online-grocery-shopping-took-year-profitable.html

Hi

The "minus sign," they do that to undermine local shops so anyone and everyone that can spend the min amount is looking towards them.  

I ask you this. How long does a corner shop survive on a -5%?

The bottom line is tesco doubled its profits, not every area is going t make a profit from the outset and or will go up and down. They boulbed their profits to over 2 billion

Thanks

Tesco survive despite bad profits on home delivery because in effect those who shop in store are subsidising those who take delivery.

p00hsticks

diystarter7 said:

p00hsticks said:

diystarter7 said:

wolvoman said:

diystarter7 said:

IMO, these retailers are profiteering from us.

thanks

They're really not.
They're getting some increased trade from people trading down from going for meals, but their margins are still wafer thin.

Is doubling ones profit during these times acceptable? EG from a billion to about over 2 billion?

Tesco's Financial year end is at the end of February.

So the 'doubling ones' profits you refer to was the increase from financial year 2020-1 (which was strongly impacted by the pandemic and so saw a significant reduction in profit from the previous year) to finanical year 2021-22. It did not occur during 'these times' but was mainly due to the re-emergence of the world from the pandemic.  

It's half year profits in August 2022 were down 30% and their current full year forecast is for only a slight rise in profits from the previous year - which may or may not actually happen. 

https://www.voxmarkets.co.uk/articles/tesco-half-year-results-low-everyday-prices-and-that-s-just-the-shares-bf9f863/

So if by 'these times' you are referring to the current cost of living crisis, which was largely precipitated by the escalation of the War in Ukraine in February 2022, then the hard figures would not indicate that Tesco is 'profiteering' by your definition - that is 'making or seeking to make an excessive or unfair profit, especially illegally or in a black market'

Hi

Not to worry as it was "doubling profits" and I was clear on that. As you are doubting me, I will post a very credible link
(I am fully aware they are there to make profits like others but to bleat on about they care during covid and doubling profits leaves me a bit sceptical )

Quot from link

Total revenues for the UK’s biggest supermarket, which proved to be a pandemic winner by taking a share from rivals and boosting online sales, rose by 6% to £61.3bn as pre-tax profits jumped from £1.1bn to £2.2bn in the year to the end of 26 February.

https://www.theguardian.com/business/2022/apr/13/tesco-profits-double-but-supermarket-warns-of-impact-of-soaring-inflation

I'm not disputing your 'very credible link' - it actually backs up what I've said in my previous post, and has little relevance to whether or not Tesco is currently 'profiteering' as you imply.

If you click on it, you';ll notice that it says in a big yellow banner at the top that 'this article is from more than nine months ago'. The doubling in profits the article refers to the increase from March 2020- Feb 21, which was considerable lower than the previous year due to the pandemic, to March 2021- Feb 22, which saw profits return to more usual levels.

It really doesn't bear much relation to what sort of profits Tesco is likely to see this year during the current cost of living crisis. Their half year profits announced in August 2022 were 30% down on the previous year, as reported in the equally credible but far more recent link I included in my previous post

https://www.voxmarkets.co.uk/articles/tesco-half-year-results-low-everyday-prices-and-that-s-just-the-shares-bf9f863/

so profits certainly won't be doubling when they announce this years figures (their year end is at the end of next month, I'm not sure when they'll announce the figures.)