Greggs Dominates the Market with Amazing Loyalty Rewards – Unbelievable Sales Growth!

Greggs has released its Q3 trading update, reporting positive results driven by a customer retention strategy centered around loyalty and the introduction of additional touch points for consumers.

The Greggs app, which facilitates participation in the loyalty scheme, continues to experience growth, with a 13.1% increase in in-store transactions scanned using the app during the 13-week period ending on September 30th. This marks a rise from 10.6% in the first half of the year.

Greggs achieved positive sales results from its extended operating hours, with 8.8% of sales occurring after 4pm during the quarter, representing a 0.5% increase compared to the first half of the year. This led to a significant 14.2% year-on-year increase in sales for the business.

Additionally, Greggs has been strategically expanding and relocating its stores to more valuable locations. Throughout the year, it has successfully opened 144 new shops, bringing the total number of outlets to 2,410, marking a record-breaking year in terms of sheer volume. In line with its efforts, the company also closed 62 stores during this period. Moving forward, Greggs anticipates approximately 140 net shop openings for the full year, targeting train stations and airports.

Greggs attributes part of its success to its innovative approach to pizza toppings and baguettes, previously identified as areas of growth in its interim results. The bakery chain has also experienced positive outcomes from its trial collaboration with Uber Eats, resulting in increased sales. As a result, Greggs plans to expand its partnership with Uber Eats while maintaining its existing relationship with Just Eat.

The brand assures consumers that there will be no further price increases in the second half of the year, despite a previous increase in July. This is due to anticipated decreases in cost inflation, although the overall economic outlook remains uncertain.

Promotional activities will still be ongoing. According to the company, Greggs will continue to provide exceptional value and increase its market share, as customers seek ways to stretch their money. Additionally, the company has robust plans for products and promotions in the fourth quarter, and the expansion of their delivery service will make Greggs more accessible to a wider range of customers.