Tesco’s Chairman Warns of Higher Prices if No Brexit Deal

The video discusses potential disruptions in fresh food supply due to Brexit, with Tesco preparing for worst-case scenarios. It covers the impact of tariffs and inflation on food prices, particularly in the event of a no-deal Brexit. The challenges of supplying food to Northern Ireland are addressed, along with Tesco's strategies to manage these issues. The video also explores consumer behavior during Christmas amidst lockdowns, Tesco's decision to repay business rates relief, and the shift towards online shopping during the pandemic.

What is Tesco's strategy to handle potential disruptions in fresh food supply?

• Relying on local suppliers

• Stockpiling long-life products

• Reducing store hours

• Increasing prices immediately

What is the expected range of inflation for British consumers if there is a no-deal Brexit?

• 6-8%

• 3-5%

• 1-2%

• 10-15%

How is Tesco ensuring food supply to Northern Ireland amidst Brexit uncertainties?

• By reducing the number of products

• By increasing prices in Northern Ireland

• By shipping through alternative routes

• By closing some stores

What is the anticipated consumer behavior during Christmas due to COVID-19?

• Increased demand for larger turkeys

• No celebrations at all

• Celebrations in smaller groups

• Increased travel for family gatherings

Why did Tesco decide to repay the UK business rates relief?

• To reduce operational costs

• To avoid government penalties

• Due to a moral imperative

• To increase their profits

What change in shopping habits is expected post-COVID according to Tesco?

• A complete return to physical stores

• A permanent shift to online shopping

• A mix of online and physical shopping

• A decrease in overall shopping

What was the impact of COVID-19 on Tesco's operations earlier in the year?

• Increased store openings

• Reduced staff pay

• Significant operational costs

• Decreased online sales