Sunday, 21 March 2010
Greggs bid for the yuppie pound.
Just as the recession will impact differently on different sections of society, a reduction in public services but an expanding market for mega yachts for example, so it will also impact differently on different retail outlets. As the less well off scratch around to save a few bob so we see a plague of rip off pound shops spreading across the land. But according to some pundits it's not quite as straightforward as you might think. One retail company that seems to be doing very nicely is the bakers chain Greggs who are in the process of opening hundreds of new shops. The company's top dogs are claiming that this is partly due to the economic downturn forcing yuppies to forgo their usual lunchtime parma ham on ciabatta and a skinny latte and opting instead for a Greggs sausage roll and a cup of brown windsor soup. Does this mean that the bakers will now become infested with suits fiddling with their Blackberrys, and is there such a thing as brown windsor soup anyway? I shop in Greggs myself from time to time - only in an ironic way obviously.