Tesco has revealed plans to start selling holidays as it actively looks to expand its non-food business.
A senior executive said there was a “huge opportunity” for Tesco to seize in the travel arena.
Steve Clarke, director of space and merchandising, quoted in The Scotsman: “Our research shows people are more conscious of things like health and leisure time. For the first year ever, consumers now spend less than 10% of their income on basic food and drink for everyday needs so it’s important to know where customer spend is going”.
“We believe there is a huge opportunity for us in offering other retail services and that touches on travel. We look at every penny that customers spend. And if we do go into travel, we would look to partner people with expertise.”
The store group, which recently reported profits of £2billion has an expanding portfolio which already includes loans, credit cards and travel insurance.