The UK bakery chain Greggs has reported increased sales during the most recent financial quarter, thanks largely to “targeted promotional activity”.
During the third quarter, the retailer reported a 0.8% like-for-like sales rise and a 5.4% total sales increase.
Greggs has highlighted the importance for companies of understanding and communicating directly with their customer base. By introducing new ranges, opening more and different styles of shops, and marketing wisely, the company has been able to exceed market expectations.
This is especially commendable given the current economic climate and the general reluctance by the public to spend.
Chief executive Ken McMeikan said: “In a tough environment, we have increased our investment in promotional activity, offering a range of outstanding meal deals that help our customers to make their money go further,” NEbusiness reports.
He added: “We will continue to respond to this by offering our customers outstanding value through targeted promotional activity, supporting some of this investment through our continuing drive to improve business efficiencies.”
Marketing forms a key aspect of every business, and the importance of tailoring promotional materials to customers is neatly emphasised by Greggs’ sales success. For example, the chain launched a new breakfast range in 2010 and in the past year, 600,000 porridge pots were sold and coffee sales soared by 18% – underlining how well Greggs knows its market and target audience.
Its “superstar” doughnuts range also proved popular, with 1.4 million selling in the first five weeks.
Another element of Greggs’ business success is its shops. Both new store openings like the one that forms part of the Westfield Stratford City development near the Olympic stadium in London, and different shop formats like the coffee-shop style Greggs in the North East, have been popular with customers.
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