January 2019 Business View Caribbean

48 49 though it’s a popular concept in the U.S. and Canada, today, the model had not yet been implemented in those countries, back then. He notes, “Now we have Walmart and Sam’s Club engaged in it, but at the time we introduced it in the 1980s, the model wasn’t done elsewhere.We were kind of original when it came to that merger of businesses.” Glace’s major competitor is a regional conglomerate that Bousquet says, “earns approximately $8 billion EC (Eastern Caribbean) per year; that’s huge when compared to our average $18-$20 million EC range.” (1 US dollar converts to approx. 2.7 EC dollars). Glace has a few ways to counter the competition. First and foremost, their signature bread must be a differentiating factor. One may argue that the partnership, where the bread was marketed throughout the island, was probably not in Glace’s best interests. But the general philosophy within the company, now, is that their bread is the means to battle the competition. “The business environment and competitive landscape have changed significantly,” Bousquet explains. ‘This requires new ways of thinking. Glace consists of several types of businesses which call for different approaches to recovery and growth. Some parts may call for innovation and agility while others for a greater focus on operational efficiency and stability. Therefore, the second means of combating the competition involves Glace engaging in greater introspection - a more ardent examination of the various profit centers within the company. These profit centers would then be run as quasi stand-alone businesses which would allow Glace to survive GLACE SUPERMARKET and thrive in the current business environment by employing more targeted strategies.” Here’s a fun and unusual item of note: certain aspects of baking are price-controlled by the government in St. Lucia - more specifically, two particular types of bread. Pan bread is priced at a certain weight. The more popular size (called large pan bread) costs five EC dollars, while Creole bread (a small bread weighing approximately two ounces that must have two pointed ends) has a definite price attached to it, as well. These two anchor prices influence the price of all other breads. To keep abreast of the news in their different industry sectors, Glace Supermarket is a member of the St. Lucia Bakers Association and the Petroleum Dealers Association. As for marketing, Bousquet admits, “Our company is in a transition phase.We have a Facebook presence and are thinking of going exclusively through social media, and actually focusing specifically on the bread. Culturally, as a company, we’re trying to decide which way is best to move forward. Over time, we’ve been engaged in different industries as a means of expansion, including opening a hotel that we ran for a decade and divested in 2018. But, recently, we’ve pulled back and decided to consolidate and focus on our main areas of strength–our supermarket and bakery– and use this as a catapult to grow the company.” As a long-time family business on St. Lucia, Glace Supermarket and its owners definitely do outreach in the community, but you won’t find out about it online or in the press. It’s done quietly, usually, on a one-to-one basis, although they do periodically provide bread and contributions to Glace Fuel Station Glace Auto Accessories