We recall how Bread Talk represented that the soya milk they sold were fresh. But we later found out it was Yeo's soya milk. Arguably, not as fresh as they want it to sound. Post this incident, I have hardly purchased anything from Bread Talk.
Businesses that can win the trust of consumers develop competitive advantages. Consumers are happier to be associated with the brand and they are prouder to share their purchases with their friends in person and on social media platforms.
A firm needs to build moral capital in order to lead effectively in their respective sector. Moral leadership gives legitimacy for the firm to transform their businesses. Especially in Asia, a virtuous company must understand that it cannot pursue profit at the expense of its customers.
The basic elements of a virtuous organisation comprises courage, perseverance and discipline. In recent news, BreadTalk seems to lack all three of these elements. They lack the courage to come clean about your mistakes, they show a clear lack of perseverance and discipline to grow their business the right way.
I am skeptical about the future growth of a firm that chooses to lie about their products to their customers. I am skeptical about BreadTalk as a symbol of success in Singapore.