When bakeries across the globe are facing problems for which few have closed their shop few of them have sold their business .gone for reducing numbers and staff Greggs bakery chain have return profits after profit . Greggs performance under these circumstances have been remarkable .
Greggs bakery boast to have more retail stores than McDonald's in UK . It has around 1400 outlet in UK and are planning to add 600 more , that is enough proof of their confidence .
What strikes about their bakery business is the best of practices followed in corporate cultures for example let it be in the field of
Customer service
Product innovation
Localised flavours
Supply chain management
Employee satisfaction
Senior Management
Community care
Social Responsibility
An article to explain this all
While many retailers have suffered in the economic downturn, pre-tax profits at Greggs, announced yesterday, have risen by 12.3% for the first half of the year, to £18.6m, although the rise in wheat prices may make the next half of the year more challenging. But the company has, in its quiet way, become a bit of a British institution. It serves 5 million customers a week, sells nearly 140m sausage rolls a year and has shifted a huge 4.5m breakfast rolls since launching the range in February.
"There are several reasons why Greggs has done so well," says Malcolm Pinkerton, senior analyst with retail research company Verdict. "They have shifted to fresh food and their prices are low. They focus heavily on lunchtime 'meal deals' [a sandwich, drink and packet of crisps for £2.99, 2m of which have been sold in the first half of the year], and getting morning trade. Promoting freshly baked bread and handmade sandwiches means their quality perception is on the rise." It attracts a wide range of people, "from professionals on a budget who might be switching down from Pret a Manger or EAT", says Pinkerton, to manual workers getting a morning "mansnack" – as steak bakes and its like are known – to older people and young families. Pinkerton says that among its core customer base, "people feel affection for the brand. Their sausage rolls are famous, for example."
Read more on
http://www.guardian.co.uk/lifeandstyle/2010/aug/11/greggs-the-bakers
What strikes about their bakery business is the best of practices followed in corporate cultures for example let it be in the field of
Customer service
Product innovation
Localised flavours
Supply chain management
Employee satisfaction
Senior Management
Community care
Social Responsibility
An article to explain this all
While many retailers have suffered in the economic downturn, pre-tax profits at Greggs, announced yesterday, have risen by 12.3% for the first half of the year, to £18.6m, although the rise in wheat prices may make the next half of the year more challenging. But the company has, in its quiet way, become a bit of a British institution. It serves 5 million customers a week, sells nearly 140m sausage rolls a year and has shifted a huge 4.5m breakfast rolls since launching the range in February.
"There are several reasons why Greggs has done so well," says Malcolm Pinkerton, senior analyst with retail research company Verdict. "They have shifted to fresh food and their prices are low. They focus heavily on lunchtime 'meal deals' [a sandwich, drink and packet of crisps for £2.99, 2m of which have been sold in the first half of the year], and getting morning trade. Promoting freshly baked bread and handmade sandwiches means their quality perception is on the rise." It attracts a wide range of people, "from professionals on a budget who might be switching down from Pret a Manger or EAT", says Pinkerton, to manual workers getting a morning "mansnack" – as steak bakes and its like are known – to older people and young families. Pinkerton says that among its core customer base, "people feel affection for the brand. Their sausage rolls are famous, for example."
Read more on
http://www.guardian.co.uk/lifeandstyle/2010/aug/11/greggs-the-bakers
about US$70m to build and is currently focusing on the Indian market. However, in future, it could supply the Middle East and Africa, the spokesman added. Seoul-based Lotte Confectionery, a subsidiary of the Lotte Group, entered India through exports before acquiring Indian confectionery company Parrys in 2004. Through years of retailing businesses in India, we found out that the nation holds a market with huge potential to Lotte, the spokesman said.