Whilst over many years Greggs has developed a leading position in the bakery market, customer preferences are shifting towards ‘food-on-the-go’.
Our strategic review confirmed that the food-on-the-go market is still growing and attracting expansion by our competitors, particularly convenience supermarkets, coffee shops and fast food operators. Whilst Greggs has defended its position as the leading retail bakery business it has underperformed in the food-on-the-go market as new entrants and existing competitors have rapidly expanded shop numbers and better met customer demands.
The Greggs brand occupies a strong position in the food-on-the-go market with a reputation for good value, fresh and tasty products and great customer service. We estimate Greggs ranks number one in the market for savoury snacks and breakfast and number two for sandwiches. A recent national survey of customer service ranked Greggs the 10th best brand in the UK and significantly ahead of all but one of our specialist food-on-the-go competitors (source: UKCSI).
With Greggs’ strong brand and robust business model, we see significant opportunities in this area and believe focusing on the four key priorities detailed in the `strategy in action’ section’ will deliver success in food-on-the-go.