We started the week with Starbucks announcing that they plan to open 100 new stores across the UK this year, and whilst it's only Tuesday there is more good news for the High Street and wider retail environment today with the news that Greggs plans to open around 150 new bakeries in 2023 as well as :-
- extending opening hours elsewhere
- refurbishing another 150 stores
- relocating 40 stores to larger sites.
Despite inflationary pressures and an ever growing cost of living crisis, it would appear that if you pitch it right then the model will thrive. A lesson not always followed by retailers, as we have seen in recent years, with a number of spectacular collapses of what were once high street staples following some unsustainable expansion programmes.
It's comforting, therefore, to see that despite cautions around future economic outlook, and the numerous challenges around logistics, higher energy costs and staff resourcing issues, that two strong operators with clear and distinct brands and offerings are pushing on with expansion plans.
Of interest as well, is their stated intention to open more branches in alternative locations such as airports and shopping centres. At a time when occupancy rates are under some tension, having an operator on the expansion train is encouraging news to hear.
In the meantime... I'm off to grab a Sausage, Bean & Cheese Melt !
There is always going to be a place for food-on-the-go venues and Greggs' offering is perfectly pitched in the current environment
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