Hallo everybody. I'm glad to see so many in attendance here today. Thank you for the invitation and opportunity to come and talk at this conference today. My name is Terry Leahy and I am the CEO of Tesco. I am going to tell you about what it takes to run a retail outlet, the development in the retail business, and how important it is to be attentive to the green consumerism. But I will start by telling you a little about my background. I grow up in a prefab where there were three rooms for six people. My Mother was a nurse, and my father worked as a carpenter. My mother had to go shopping every day and I loved to go shopping with her, as you may know everything was expensive bag then, so the money that was meant to be spend on disposable went on food instead.
But let us turn to the more business-related rather, to be a part of the future of retailing, information about customers is one of the most important things. Each customer has some routines on shopping, that you need to know, if you want to be able to develop your retail business more. In Tesco, our customers have the opportunity to become a member of our Club Card. which provides customers advantages, and at the same time it provides useful information about the customers shopping habits. The weekday is very stressful for many people, the weekday is especially hard for the mothers who are desperately looking for the time to shop, because they have to pick up the kids, wash the family's clothes, and make the dinner. The many mothers who all are busy, creates problems of long queues and impatient customers. This could be solved by making online shopping, or you could install counters with self-service. In Tesco, we also believe that self-service will largely be a part of the future. And later on in the future we believe that almost all will be bought on the internet, and there will only be a few supermarkets left, perhaps there will be a few clothing stores also, but it will only be for the display of clothing, so we need to focus on e-commerce.
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