Banksy in Essex Road

Keeping his identity a closely guarded secret, the graffiti artist Banksy has made a name for himself with provocative images stencilled around the streets of London. This one has recently appeared in Essex Road in Inslington midway between two branches of the ever growing Tesco who seem determined that no street corner shall be complete without a Tesco store.

My own view is that this is folly not just because of the damage it does to communities and to local shops - destroying the independent shops but because (and there is such a good precedent here with Starbucks) this saturation policy alienates people, makes the experience not at all special and, crucially, results in falling returns per outlet. The classic management solution, keep on boosting profits by expanding and expanding until the balloon goes bust!