The local economic climate and job disruptions have never been a more pertinent issue other than now.
Staying stagnant can burn, and companies have to constantly innovate and disrupt themselves in order to maintain and grow their appeal to Singaporeans.
This familiar homegrown brand is doing a damn good job at that, not just in its home ground of Singapore, but across the globe as well.
Let’s Talk Bread
Bread is a staple of everyone’s diet, be it in the form of slices or artfully decorated in seeds or presented in a smoky charcoal flavour. To satisfy public demand, new artisan bakeries are churned out from the wheat mills all the time, from Proofer Boulangerie to Duke Bakery.
And despite the newer, younger competition, the BreadTalk brand has always managed to stay ahead of the competition. Blending a unique mix of local flavours, the company is known for delivering delicious twists to their designs that celebrate the local festivals and iconic moments.
But if you read out previous article on how CEO Chou Cheng Ngok keeps Popular afloat in an era of e-reading, you might have remembered that one of his cornerstones for success is variety.
And for people who think BreadTalk will be fading into oblivion, turn away now, for founder George Quek knows exactly what he needs to do to make sure his brand, like bread, remains a staple in the minds of people everywhere.
1. Variety, Indeed The Winning Recipe
While I cannot claim a loyalty to BreadTalk, one highly appealing aspect of their brand is that there is a consistent slew of new designs and flavours that come out of their kitchen. Unlike other bakeries , breakfast-shopping at BreadTalk feels like a fresh (literally) experience each time with new designs sitting plump, a strategic move that keeps the customers coming.
On a second note, harking back to Popular CEO’s love for variety and stability, BreadTalk also ensures that their brand is protected from more than one direction. In case you’re not familiar with the entire ingredient list that makes up the their winning business recipe, its core flavours run the gamut from Din Tai Fung to Carls. Jr.
2. Think International
The BreadTalk Group has had much success in terms of overseas expansion, with Din Tai Fung expanding to London sometime this year, and claiming yet another stake in the international market alongside its home brand among others. But what has been claimed to be a key strategy of the group is its ability to adapt to local markets.
Case in point – their expansion to Shanghai saw prices bring kept 10-15% lower than what we pay here, in order to encourage the local consumers to accept their foreign brand. Only afterwards were the prices brought up to par with Singapore’s.
One of BreadTalk’s key local milestones was also the opening of its global concept store in VivoCity, an achievement that saw the coming together of 3 international chefs from Japan, Taiwan and of course, Singapore.
The new store featured 50 brand new items that introduced a fresh new consumer experience for everyone, which leads me to my third, and final point.
3. Keep Your Roots, But Don’t Stop Moving Forward
Founder George Quek is renowned for his business acumen and entrepreneurial success, but he is also (for the next few months) the leader of the Teochew Poit Ip Huay Kuan, a clan for those of Teochew descent.
When he took the helm in 2013, one of his main goals was to attract younger members, meaning that it was important for the group to keep up with modern society.
In a recent article, he blends his attachment to his roots with the moving forward with times. As noted by him, loving their original products is one thing but it is also important to always innovate and launch new ones.
Baking Up Sustained Success
Anyone who bakes know that it isn’t as simple as cooking, everything that goes into the mixer and eventually the oven, is assiduously prepares and to precise effects. Knowing when to enter new markets and when to pull products off shelves (especially to avoid further legal backlash for repackaging soya milk) is all in a day’s work for anyone looking for success.
But what does this all mean for us? Namely that we’d still get to enjoy more delicious zodiac animal buns (2015’s sheep bun was a fluffy ball of goodness).
Levity aside however, in today’s disruptive economy, the idea of constantly disrupting oneself and keeping ideas and products fresh (AND relevant) remains a highly pertinent issue.
And whether or not you’re in the F&B industry, innovation should never be too far away from your recipe for success. It’s certainly what makes BreadTalk one of the best bakeries in Singapore.
Featured Image Credit: sweetmemoirs