£2 of every £100 spent in UK hospitality is splashed out at Greggs

Nearly £2 of every £100 spent in the UK hospitality industry is spent at North East institution Greggs.

Analysts at Panmure Gordon revealed this is up from its previous figure of £1.60 as Brits increasingly reach for steak bakes and sausage rolls on the high street, as reported in City A.M.

And the bakery chain has no plans to slow down any time soon. It's been announced the Newcastle-based company will open a further 160 stores in 2024 with sights set on opening a Greggs in every town in the UK. By the end of the year there should be 2,600 stores across the country.

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Greggs is still celebrating the high of a successful festive period too. In the quarter four of 2023 sales were up 19.8% thanks to the ever-popular Festive Bake.

With a focus on extending opening hours and its partnership with Uber Eats, Panmure Gordon believe Greggs can double its market share by 2026/27.

Last year the chain won the right to sell sausage rolls until the early hours of the morning in its London Leicester Square branch- a luxury Geordies have experienced for years with Grainger Street and Neville Street open until 4am.