The Market For Pret

Conceptia Francois MCA 376: Ad Planning Prof D. Holloway 11/2/2022 Pret- A- Manger was initially open in 1986.Pret-A-Manger's main idea is to provide customers with natural, freshly prepared sandwiches to grab and go.Since then, the market has grown significantly in 450 nations, including the United States.Due to the massive expansion, the store's initiative included studying the new markets to gain a deeper understanding of the local market and develop effective strategies, creating customer typologies to help the store identify its target audience and tailor its offerings to them, and finally implementing a regulatory customer insight program to learn about the preferences and habits of each consumer segment. The consumer target of Pret-A-Manger is very diverse. As we stated earlier in the beginning, Pret-A- Manger is a UK-based restaurant chain that has grown rapidly in its international presence and continues to do so as it expands into new countries. As its target demographics and psychographics span a wide variety, Pret customers tend to vary in their age group and profession (student vs career), but they share the same urgency for a quick and quality meal. Studies has shown an estimated that 60% of young adults worldwide prefer to take away fast foods that are convenient for a quick lunch break. A further survey estimated that individuals aged within the age group of 14-50 years were the main consumers in fast food outlets and preferred that to the traditional and time-consuming meals. Pret therefore targets customers who want a quick meal to enable them to quickly resume their tasks and also saves their customers the hustles of having to queue for a long time. Pret customers are primarily eco-friendly or environmentalists, according to their psychographics.Vegans and vegetarians are among these customers, and their nutritional goals revolve around living healthy and/or sustainably.Customers at Pret are trendy people who care about their health.According to Butler (2016), the company is testing a veggie-only pop-up shop this summer and claims that sales of vegetarian options have increased "in double digits."When looking at their extensive menu options that cater to these specific customer requirements, this can be further supported. Their use of minimal packaging and approach to disposing of excess food at the end of the day support sustainability.
The Psychographics of Pret consumers are primarily eco- friendly or categorized under environmentalists. These customers include individuals who are either vegan or vegetarian, whose ideals of nutrition surround the idea of healthy and/or sustainable living. "Pret's customers are trendy, health-conscious types. The company says sales of vegetarian options are up "in double digits" and it is trialing a veggie-only pop-up shop in the summer (Butler, 2016)." This can further be supported when analyzing their extensive menu options that cater to these individual consumer needs. Sustainability is supported through their use of limited packaging and how they handle excess food at the end of the day. In addition, their psychographics expands into commuters where Pret have the embark of focusing on placing itself in population-dense areas.However, "Urban areas are classic Pret territory with many typical customers coming from downtown office towers and businesses.These are time-stretched customers that demand high-quality, interesting food options.There are plenty of opportunities in urban markets for Pret, but in time they see their urban food concept translating easily into suburban markets (Celentano, 2018)." People ranging from College students to working millennials are more likely to be customers of Pret, and other styled food places in their competitor market, in New York, especially based on where their store locations are located near colleges and business heavy areas such as the Upper East Side and Midtown Manhattan. For this reason, it can be challenging to define the exact Demographics that Pret intends to be their customers. Especially the consumers of the ages between 20-35 , since they consist of both College students and Millennials as aforementioned.In addition, both primary genders of male and female, since there is no differentiation based on these qualities of how they sell their products. Their locations seem to market towards NYC residents and commuters within the Five Boroughs with the emphasis being placed on Manhattan as they have 54 locations within a 3 mile radius in the city alone accordly to source. (Pret, 2019)."Pret's brand positioning is Upscale Fast Food or "Faster" Fast Casual it's likely "Faster" because the company prides themselves in getting a customer out the door in 60 seconds once the customer makes their selection (Celentano, 2018)." Because of this, it is ideal for individuals like students or business workers who have limited time for lunch breaks. "Pret's menu of freshly made nutritious food to go is perfect for busy travelers, Pret Partnership Director Michael Haley said in the release (Fast Casual, 2017)." Lastly, the marital status of consumers seems to prefer neither single nor married since it takes customers to a part of their day that is unrelated to this status. The income of their customers is debatable, though it seems ideally those who make $50k or more who fall into the upper-middle class since these are typically the individuals who can afford to spend a bit more and combine that with thoughts of being health conscious.
The more an individual makes, the more time they can spend investing time and thought into these decisions. Cited Work 1. Celentano, Domenick. "Pret A Manger Is Growing with Its Upscale Fast Casual Sandwich Shops." The Balance Small Business, The Balance Small Business, 25 June 2018, Sandwich-chain-1326253 2. Butler, Sarah, and Rupert Neate. "Why New Yorkers Are Queuing up ... for Pret a Manger." The Guardian, Guardian News and Media, 23 Apr. 2016, Manger 3. Pret. "Pop into Pret Near New York, New York." Pret, Pret, 2019, 4.Pret-A-Manger. "About Pret." * Pret *, 2019, . 5. Pret a manger expanding in North American, European Transport Hubs . (2017, November 13). Retrieved November 2, 2022, from ean-transport-hubs/.
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