1. INTRODUCTION
Entrepreneurship implies to the process of creating, developing and managing a new venture with the aim of earning higher profits. Globalisation leads to ease the process of entering into new country which provides access to wider target market and aids in earning higher profits. The current report is based on critically analysing France market for establishing Gregg’s operation in country.
Overview of selected business
Greggs is the Bakery chain of UK which was established in year 1939 by John Gregg. The organization is involved toward offering wide ranges of product that includes Sausage rolls, Pizza, sandwiches, cakes, pastries, baguettes and many more. Firm is targeting the entire individual from diverse age group and genders (Description of Greggs, 2025). Greggs is having annual revenue of 2014.4 million pound and has a market share of 10.2% in year 2024.
2. GLOBAL MARKET DEMAND AND TRENDS ANALYSIS
Global Market Demand discussion
- The global bakery product market has been witnessing the major trends because of the urbanization as well as modern life. More health conscious people are driving the demand for the baked products with the organic, natural as well as functional ingredients. The market is impacted by the changing diets, lifestyles as well as affordable price range. The France is known for the abundance of bakeries (Djaoudene et al, 2023). There are also range of historical, cultural as well as economic factors which contribute in the country growth. France bakery sector has been growing which is driven by the demand for the diverse menu options. The demand for the baked items with France is rising because of changing customer lifestyles, growing preferences as well as urbanizations.
- Global market trend analysis
- The bakery product market has been experiencing the major development because of the rising popularity of the online sales. The changing lifestyle of the customers linked with the rising preferences of the convenience food contributes in the global bakery market development.
Global market trend analysis
The global bakery product market is estimated to grow by 4.4% which is 248.8 billion pound at the end of 2025 (Global Bakery market Trend, 2024). The market has witnesses’ the shift towards healthier product and prioritises conveniences and wellness while fulfilling their needs. Moreover, it has been identified that there is increasing trend to order product and service through online platform rather than visiting physical stores as it aids in enhancing overall accessibility of the customers. It has been identified that Cupcakes, customize cakes and Gluten free and vegan baked goods are most demanded bakery item on ecommerce platform. It has been identified that cakes are the highest sold bakery items which amount to 24% of total sales. Moreover, Europe is the most dominating global bakery market as it covers over 36.3% share in year 2024.
3. IDENTIFYING AND SCREENING OPPORTUNITIES
Evaluation of opportunists
Entering into France will facilitate the organization to tap inaccessible customer segments. Expanding globally will facilitate the Greggs to incorporate new regional insights from the France into their offerings and gain competitive advantage to confined domestic markets. France is the hub for global bakeries with the consistent demand of pastry chefs as well as skilled bakers which is a great opportunity of the Greggs (Yaheliuk, Fomych and Rechun, 2024). The firm can opt for value based pricing model to attract the large number of customer in France. As customers busy lifestyle lead to the demand for the on the go food which enhance turning to quick services which will offer growth to Greggs. The rapid growth of internet connectivity as well as high customer spending are the key elements of the QSR market in France.
Analysis of challenges and threats
Greggs have to face high competition for the local bakeries within the France. This will be challenging for the organization to compete with the well-established bakery companies. Nowadays, artisanal bakeries are thriving as customers are seeking for small batch products with the emphasis on the authenticity as well as quality. The firm need to find the right balance between maintaining the high quality standards as well as make the affordability for the customers. Intense competition can lead to erode profits, price wars as well as reduce the value proposition for clients (Bhat, 2021). Greggs need to develop the pricing strategy which balance the competitiveness with profits. France has its unique norms, cultural nuances as well as values which can impact customer preferences, behaviours as well as business practices. Failing to adapt as well as understand these differences in cultures can lead to inefficient communication, misunderstanding as well as business failure. Change in the exchange rates can influence the profits of the international operations which affect revenue streams.
Assessment how opportunities outweigh challenges and threats
Localized marketing campaign will help the organization to foster the trust with the France customers by respecting as well as acknowledging their unique customs, characteristics as well as needs. Localized marketing is significant element of the efficient marketing strategy which assist the business to build the trust with the local audience as well as drive sales. To overcome language barriers as well as understanding cultural nuances are vital in localized marketing campaign for the Greggs to operate in France. By optimizing business operations as well as facilitate seamless interactions with the right technology Greggs plc. can thrive its business with the competitors. The firm needs to comply with the France labour laws which can influence the company’s cost structure (Kapustina et al, 2021). This includes finding the right balance in maintaining the high quality standards as well as ensures affordability of the customers. By leveraging technology such as digital ordering, Greggs plc, can enhance their agility as well as respond quickly to the market changes which offer them the competitive edge.
4. VALUE PROPOSITION AND BUSINESS MODEL
Value proposition
Greggs position them as a value for money food, on-the go retailer which will offer them the competitive edge in the France market.
Low Price: Greggs will expand its product with its convenience as well as affordability which will continue to appeal customers in the cost of living crisis (Gotham et al, 2021). This strategy will assist in meeting the customer expectations as people compare the prices before making the purchase.
Convenience store: the grab and go concept within the food retail trends emphasize the speed and convenience (Dablanc et al, 2022). This include pre-packed drinks as well as foods which the customers can grab from the pay and shelves for the checkout counter. This is designed for the individuals with the fast-paced lifestyles like busy millennial.
Gregg’s loyalty app: The firm has developed its own website as well as loyalty rewards app to enhance customer purchasing as well as drive emotional connection with the organization.
Sustainable sourcing: the firm is emphasizing on developing more sustainable packaging to link with the key accounts with zero waste goals as well as enhance overall sustainability (Bajolle, Lagadic and Louvet, 2022).
Innovation business model
Business model canvas
|
Building block |
Description |
|
Customer Segments |
Students, professionals as well as budget conscious people |
|
Value Proposition |
grab-and-go baked goods, quick meals, affordable and high quality |
|
Channels |
online ordering via app, third-party delivery, self-service kiosks and Physical stores |
|
Customer relationship |
Loyalty programs, social media arrangement as well as localized marketing campaigns |
|
Revenue streams |
Online and delivery sales, in-store sales, franchise opportunities as well as premium product lines |
|
Key resources |
Bakery production, supply chain as well as strong brand recognition |
|
Key partnerships |
Franchising partners, real state, delivery services provides as well as local suppliers. |
|
Cost structure |
Labour, technology, marketing and raw materials. |
5. CRITICALLY ASSESS INNOVATION CONCEPT
Innovation concept discussion
There is various type of innovation method which could be incorporated while entering into new markets which are as follows:
Sustaining innovation: In this, firm aims at making the good product even better by introducing new technique with the aim of higher consumer satisfaction (Liu, 2024).
Disruption Innovation: It is another type innovation in which highly sophisticated product is converted into simpler and affordable goods.
Technological innovation: This is another type of innovation in which technology is used for developing new and improved product and services.
Closed innovation: It is innovation method in which emphasis is only paid over developing ideas through internal R&D activities (Soegoto, 2021).
Open innovation: It is the method in which business entities sourced ideas from both internal as well external sources.
Suitability
Greggs Plc is aiming at utilising Sustaining innovation while expanding into France which helps in easily attracting target market (Królak et al, 2022). In this context, firm is aiming at substitute all unhealthy products with healthier version which could be consumer by all type of consumers. For determining suitability of the proposed innovation SAF model has been utilized as below:
Suitability: It has identified that 64% of total customer prefer healthier and organic product options. This indicates high suitability of the proposed idea as it helps in effectively fulfilling their demand.
Acceptability: It is most acceptable innovation as each individual focuses on consuming healthier product which will be fulfilled through Gregg new innovation (Sadeghi et al, 2024).
Feasibility: It is highly feasible idea as Bakery market in France is estimated to grow by 0.9% CAGR and reach at 29.2 billion pound at the end of 2027 indicating high feasibility of idea (SAF model of bakery Industry, 2024).
Justification
The firm is aiming at creating competitive edge by introducing organic and sustainable product in its offering. Further company is aiming at utilising penetration pricing strategy which will help in attracting cost conscious customer and support in enhancing affordability of larger target market (Čechura and Jaghdani, 2021). Along with this, Social media marketing will be used that aids in easily defining firm’s product and services to larger target market that aids in earning higher profitability. Along with this, firm is aiming at carrying out its operation in sustainable manner which help in easily creating competitive edge within industry.
6. ROLE OF ENTREPRENEURSHIP IN WEALTH CREATION
Entrepreneur’s wealth creation
Entrepreneurs play a crucial role in creating wealth and enhancing economic position of country in the following manner:
Resource utilization: Entrepreneurs are involved towards utilizing resources in a smart and calculated way which aids in optimum utilization of all the resources (Goryńska-Goldmann, 2022). Entrepreneur compromises of productive idea and innovations which help in optimally utilizing of all the available resources. This helps in mitigating scope of resources wastages leading to wealth creation within country.
Job creation: Entrepreneur aims at starting up new ventures business within innovative ideas which aids in offering higher job opportunities. This will help in providing employment opportunities to large number of individual which eventually end up reducing unemployment rate (Lockyer and Spiro, 2020). Moreover, higher job creation results in boosting overall purchasing power of the individual and results in wealth development.
Economic Growth: Entrepreneurs plays a crucial role in overall economic growth of the organization which aids in country’s’ overall development. Entrepreneur aids in optimum resource utilization, enhances net exports, job opportunity which help in overall wealth creation.
7. CONCLUSION
By summing up the report, it has identified that there is huge market for the organic and healthier product and services within France. It has been determined that Greggs is having opportunity to expand its business in France and huge amount of competitors are the major threat to company. In this context, Greggs have decided to utilising sustaining innovation in which all the unhealthier product will be substitute by healthy raw material as to align with consumer’s needs. It has determined that there is huge market for organic bakery product which indicates high growth opportunity of Gregg, Further, and Entrepreneur help in optimum resource utilization, economic growth and job creation which help in overall wealth creation within country.
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REFERENCES
Books and Journals
Bajolle, H., Lagadic, M. and Louvet, N., 2022. The future of lithium-ion batteries: Exploring expert conceptions, market trends, and price scenarios. Energy Research & Social Science, 93, p.102850.
Bhat, R. ed., 2021. Future foods: Global trends, opportunities, and sustainability challenges. Academic Press.
Čechura, L. and Jaghdani, T.J., 2021. Market imperfections within the European wheat value chain: The case of France and the United Kingdom. Agriculture, 11(9), p.838.
Dablanc, L., Heitz, A., Rai, H.B. and Diziain, D., 2022. Response to COVID-19 lockdowns from urban freight stakeholders: An analysis from three surveys in 2020 in France, and policy implications. Transport Policy, 122, pp.85-94.
Djaoudene, O., Romano, A., Bradai, Y.D., Zebiri, F., Ouchene, A., Yousfi, Y., Amrane-Abider, M., Sahraoui-Remini, Y. and Madani, K., 2023. A global overview of dietary supplements: regulation, market trends, usage during the COVID-19 pandemic, and health effects. Nutrients, 15(15), p.3320.
Goryńska-Goldmann, E., 2022. Bread and other bakery and confectionery products waste in selected retail stores. Roczniki (Annals), 2022(4).
Gotham, D., Moja, L., van der Heijden, M., Paulin, S., Smith, I. and Beyer, P., 2021. Reimbursement models to tackle market failures for antimicrobials: approaches taken in France, Germany, Sweden, the United Kingdom, and the United States. Health Policy, 125(3), pp.296-306.
Kapustina, L., Izakova, N., Makovkina, E. and Khmelkov, M., 2021. The global drone market: main development trends. In SHS web of conferences (Vol. 129, p. 11004). EDP Sciences.
Królak, M., Górska-Warsewicz, H., Mądra-Sawicka, M., Rejman, K., Żakowska-Biemans, S., Szlachciuk, J., Czeczotko, M., Kwiatkowski, B., Zaremba, R. and Wojtaszek, M., 2022. Towards sustainable innovation in the bakery sector—An example of fibre-enriched bread. Sustainability, 14(5), p.2743.
Liu, Y., 2024. Marketing Plan and Research Report of GREGGS. Advances in Economics, Management and Political Sciences, 105, pp.32-39.
Lockyer, S. and Spiro, A., 2020. The role of bread in the UK diet: An update. Nutrition Bulletin, 45(2), pp.133-164.
Sadeghi, A., Ebrahimi, M., Assadpour, E. and Jafari, S.M., 2024. Recent advances in probiotic breads; a market trend in the functional bakery products. Critical Reviews in Food Science and Nutrition, 64(33), pp.13163-13174.
Soegoto, F.A., 2021. Product development using SWOT analysis. International Journal of Entrepreneurship & Technopreneur (INJETECH), 1, pp.1-10.
Yaheliuk, S., Fomych, М. and Rechun, О., 2024. Global market trends of grain and industrial crops. Commodity Bulletin, 1(17), pp.134-145.
Online
Description of Greggs. 2025. Online. Available through: < https://www.greggs.com/about>
Global Bakery market Trend. 2024. Online. Available through: < https://www.fortunebusinessinsights.com/industry-reports/bakery-products-market-101472>
SAF model of bakery Industry. 2024. Online. Available through: < http://www.chifss.in/pdf/FSMS-Guidance-Documents-Biscuits-Breads-Cakes-Draft-V6-for-website.pdf>
