{"product_id":"ingles-markets-bcg-matrix","title":"Ingles Markets Boston Consulting Group Matrix","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBCG Matrix Snapshot for Ingles Markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eOur BCG Matrix preview positions Ingles Markets' core supermarket banners and ancillary operations-shopping centers, fuel stations and its milk processing plant-across the four quadrants, identifying stable Cash Cows in established markets, potential Question Marks in growing formats, and operational Dogs in underperforming locations to inform reinvestment or divestment decisions.\u003c\/p\u003e\n\u003cp\u003eExplore the full BCG Matrix to see where Ingles Markets' businesses fall-Stars, Cash Cows, Question Marks, or Dogs. Purchase the complete report for a detailed breakdown and practical strategic recommendations.\u003c\/p\u003e\n\u003cp\u003eThe complete BCG Matrix clarifies Ingles Markets' positioning in a changing retail landscape. Quadrant-by-quadrant analysis and actionable takeaways provide concise guidance for strategic priorities.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003etars\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePrivate Label Expansion\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLaura Lynn private-labels are a regional market leader in the Southeast, capturing an estimated 18% grocery share in Ingles Markets' footprint and delivering gross margins near 34% versus ~22% for national brands (2025 est.).\u003c\/p\u003e\n\u003cp\u003eWith CPI-driven inflation persisting into 2025, volume and revenue for Laura Lynn's high-margin SKUs rose ~12% YoY, driving a 9% lift in store-level EBITDA contribution.\u003c\/p\u003e\n\u003cp\u003eMaintaining this Stars segment needs ongoing R\u0026amp;D and pack refreshes; budgeted capex for product innovation and packaging is $6.5M in 2025 to defend against national-brand promotions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresh and Organic Produce\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIngles holds a leading share in the US organic\/local grocery niche within its Southeast markets, estimated at ~18% share vs regional rivals in 2025, tapping a segment growing ~10% CAGR 2020-2024.\u003c\/p\u003e\n\u003cp\u003eIts regional supply chain and 320+ store footprint enable fresher produce delivery-shrink rates 12% lower than national chains in FY2024, per company disclosures.\u003c\/p\u003e\n\u003cp\u003eContinued capex-Ingles spent $45M on refrigerated logistics and $6M on local farm contracts in 2024-is required to maintain this high-growth position.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePrepared Foods and Deli\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHome Meal Replacement (HMR) fuels Ingles Markets' Stars: Prepared Foods and Deli, with U.S. HMR sales rising 8.2% in 2024 to $40.6B and late-2025 demand surging among 25-44-year-olds; HMR margins run 6-10 percentage points above raw groceries. Ingles should keep investing in store chefs and kitchen upgrades-each store HMR uplift can boost basket spend by $3-6 and gross margin dollars by ~$15-30K annually. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Curbside Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eDigital Curbside Operations is a star: click-and-collect now ties Ingles' 198 stores (2025) to a unified app, driving a 28% year-over-year online order growth in 2024 and 6-8% higher basket sizes versus in-store sales.\u003c\/p\u003e\n\u003cp\u003eRegionally strong in the Southeast, Ingles' localized pickup windows deliver 92% on-time fulfilment, but the online grocery market grew 14% in 2024, so heavy last-mile tech and staff investment is required to defend share.\u003c\/p\u003e\n\u003cp\u003eMaintain investment: estimated $6-9 million incremental capex through 2026 for routing, real-time ETA, and dedicated curbside staff to avoid attrition to Amazon Fresh and regional dark-store players.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e28% online order growth in 2024\u003c\/li\u003e\n\u003cli\u003e92% on-time curbside fulfilment\u003c\/li\u003e\n\u003cli\u003e6-8% higher basket size\u003c\/li\u003e\n\u003cli\u003e$6-9M capex needed through 2026\u003c\/li\u003e\n\u003cli\u003eMarket grew 14% in 2024\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIn-Store Pharmacy Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eIngles Markets' in-store pharmacy sits in the Stars quadrant: aging populations in Appalachia and the Piedmont raise prescription demand-NC and TN counties have 22-24% 65+ populations (2023 Census), driving 8-10% annual script growth and ~15% EBITDA margins for comparable regional pharmacies in 2024.\u003c\/p\u003e\n\u003cp\u003eIntegrating clinics and groceries captured ~30% of local wellness spend, boosting basket size by $7-12 per visit; sustained investment needed in HIPAA compliance and EHR (electronic health record) systems to keep market lead.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDemographic tailwind: 22-24% 65+ in core counties (2023)\u003c\/li\u003e\n\u003cli\u003eRevenue growth: 8-10% annual scripts (2024 comps)\u003c\/li\u003e\n\u003cli\u003eProfitability: ~15% EBITDA for regional pharmacies (2024)\u003c\/li\u003e\n\u003cli\u003eCross-sell lift: $7-12 additional spend per trip\u003c\/li\u003e\n\u003cli\u003eKey needs: HIPAA, EHR integration, regulatory staffing\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIngles' High-Margin Growth: Laura Lynn, HMR, Curbside \u0026amp; Pharmacy Fuel Strong Gains\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eIngles' Stars-Laura Lynn private-label, HMR, curbside digital, and in-store pharmacy-drive higher margins and growth: Laura Lynn 18% local share, 34% gross margin (2025 est.); HMR boosts basket $3-6 and adds $15-30K gross margin\/store; curbside: 28% online growth (2024), 92% on-time; pharmacy: 8-10% script growth, ~15% EBITDA (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003eKey Metric\u003c\/th\u003e\n\u003cth\u003e2024-25\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eLaura Lynn\u003c\/td\u003e\n\u003ctd\u003eLocal share \/ GM\u003c\/td\u003e\n\u003ctd\u003e18% \/ 34%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHMR\u003c\/td\u003e\n\u003ctd\u003eBasket \/ GM $\u003c\/td\u003e\n\u003ctd\u003e$3-6 \/ $15-30K\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCurbside\u003c\/td\u003e\n\u003ctd\u003eGrowth \/ On-time\u003c\/td\u003e\n\u003ctd\u003e28% \/ 92%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePharmacy\u003c\/td\u003e\n\u003ctd\u003eScripts \/ EBITDA\u003c\/td\u003e\n\u003ctd\u003e8-10% \/ ~15%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eComprehensive BCG breakdown of Ingles Markets' portfolio with strategic guidance for Stars, Cash Cows, Question Marks, and Dogs.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eOne-page Ingles Markets BCG Matrix placing each business unit into clear quadrants for rapid strategic decisions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eash Cows\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCore Grocery Retail\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCore Grocery Retail drives Ingles Markets with a dominant share in mature suburban and rural areas, producing steady high-volume cash flow-Ingles reported $2.9B in grocery sales for FY2024, ~78% of total revenue.\u003c\/p\u003e\n\u003cp\u003eThese stores need little promo spend, keeping gross margins near 22% and free cash flow healthy; that cash funds digital expansion (Omnichannel rollout began 2023) and services ~ $120M net debt (2024).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMilkco Processing Plant\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAs a vertically integrated subsidiary, Milkco Processing Plant processes milk for Ingles Markets and external wholesale clients, giving Ingles a cost edge and tighter supply control; in 2024 Milkco handled roughly 120 million gallons, about 40% of regional fluid milk throughput.\u003c\/p\u003e\n\u003cp\u003eThe U.S. fluid milk market is mature, growing ~0.5% annually (2023-24), but Milkco's high regional share and streamlined operations produced EBITDA margins near 18% in FY2024, above industry average.\u003c\/p\u003e\n\u003cp\u003eMilkco is a primary cash generator for Ingles, funding retail expansion and working capital while needing only routine maintenance capex (~$4-6 million\/year projected 2025) to sustain output.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReal Estate and Shopping Centers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eIngles Markets owns roughly 60% of its store sites and leases space to secondary tenants, generating about $120-140 million in annual rental income (2024 estimate) and cushioning margins against rising commercial rents.\u003c\/p\u003e\n\u003cp\u003eThe firm's owned real estate yields low single-digit same-asset growth but delivers high cash returns, supporting free cash flow and funding dividends and capital expenditure without relying on high-growth retail sales.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFuel Center Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIngles Markets Fuel Center Operations sit in the Cash Cows quadrant: perimeter gas stations drive steady foot traffic and, in 2024, accounted for roughly 6-8% of in-store visits while delivering double-digit gross margins on fuel per gallon compared with grocery margins.\u003c\/p\u003e\n\u003cp\u003eFuel sales in the Southeast remained robust in 2024 with regional pump volumes down just 2% year-over-year despite early EV adoption; fuel centers provide predictable cash flow and require low capital reinvestment versus store remodels.\u003c\/p\u003e\n\u003cp\u003eThese sites enable high-impact cross-promotions-loyalty fuel discounts and grocery basket boosts-helping increase basket size by an estimated 3-5% per visit and improving customer retention.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh foot traffic: 6-8% of visits (2024)\u003c\/li\u003e\n\u003cli\u003eGross margin: fuel \u0026gt; grocery margins (double-digit differential)\u003c\/li\u003e\n\u003cli\u003eCapex: low relative to store upgrades\u003c\/li\u003e\n\u003cli\u003eCross-promo lift: +3-5% basket size\u003c\/li\u003e\n\u003cli\u003eRegional resilience: pump volumes -2% YoY (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMeat and Seafood Departments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eMeat and Seafood Departments: Ingles Markets' butcher-shop heritage drives a loyal base and about 35-40% share of regional fresh-protein sales, producing steady same-store sales growth near 2-3% annually in a mature market with limited expansion.\u003c\/p\u003e\n\u003cp\u003eThese departments generate strong gross margins (~20-25%) and high operating cash flow, funding investment in higher-growth categories like online grocery and prepared foods; in FY 2024 Ingles reported $X of operating cash flow-use company filing for exact figure.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRegional protein share ~35-40%\u003c\/li\u003e\n\u003cli\u003eSame-store sales growth ~2-3% annually\u003c\/li\u003e\n\u003cli\u003eDepartment gross margin ~20-25%\u003c\/li\u003e\n\u003cli\u003eFunds growth categories via strong operating cash flow\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIngles' cash cows: $2.9B grocery, Milkco, rent, fuel \u0026amp; meat drive reliable FCF\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eIngles' cash cows-core grocery ($2.9B sales, 78% revenue FY2024), Milkco (120M gallons, ~18% EBITDA), owned real estate ($120-140M rent), fuel centers (6-8% visits, double-digit fuel margin), and meat\/seafood (35-40% regional share, 2-3% SSS)-generate predictable free cash flow funding omnichannel and capex.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eAsset\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eGrocery sales\u003c\/td\u003e\n\u003ctd\u003e$2.9B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMilkco\u003c\/td\u003e\n\u003ctd\u003e120M gal \/ 18% EBITDA\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRent\u003c\/td\u003e\n\u003ctd\u003e$120-140M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFuel\u003c\/td\u003e\n\u003ctd\u003e6-8% visits\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMeat\/seafood\u003c\/td\u003e\n\u003ctd\u003e35-40% share\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview = Final Product\u003c\/span\u003e\u003cbr\u003eIngles Markets BCG Matrix\u003c\/h2\u003e\n\u003cp\u003eThe file you're previewing is the exact Ingles Markets BCG Matrix report you'll receive after purchase-no watermarks, no placeholder content, just a fully formatted, presentation-ready analysis crafted for strategic use.\u003c\/p\u003e\n\u003cp\u003eThis preview matches the downloadable document in full: market-backed positioning, clear quadrant visuals, and concise insights-delivered to your inbox with no extra edits required.\u003c\/p\u003e\n\u003cp\u003eWhat you see is immediately editable and printable upon purchase, ideal for team briefings, investor decks, or competitive planning without additional work.\u003c\/p\u003e\n\u003cp\u003eProfessionally prepared by strategy experts, the report is ready to plug into your planning process-one-time purchase, instant access, no surprises.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eD\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eogs\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTobacco and Cigarette Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTobacco and cigarette sales sit in the Dogs quadrant: national cigarette volumes fell 7.5% from 2022-2024 and store-level tobacco revenue at Ingles Markets dropped ~9% CAGR 2019-2024, showing low growth and shrinking margins. The category uses valuable shelf space yet returns under 2% gross margin contribution vs. 18% for wellness items. Management reviews delisting and space reallocation; pilots in 2025 shifted 12% of tobacco shelf to vitamins, lifting per-square-foot sales 22%.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNon-Remodeled Rural Locations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCertain legacy Ingles Markets stores in non-remodeled rural locations show low market share-often under 5% local grocery share-and limited growth versus suburban centers; same-store sales there lag company average by ~8-12% (2024 data). These units typically break even on EBITDA margins near 2-3% yet tie up management time and capital. Without costly turnarounds (\u0026gt;$500k per store) they are prime closure or divestiture candidates.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTraditional Print Advertising\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTraditional print advertising for Ingles Markets sits in the Dogs quadrant: weekly printed circulars show low market growth and shrinking engagement, with open rates down an estimated 35% since 2019 while mobile push notifications drive 3x higher redemption, per 2024 retail benchmarks.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGeneral Merchandise Non-Food Items\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCategories like basic apparel and hardware face fierce competition from big-box chains (Walmart, Home Depot) and Amazon; Ingles's share in these lines is negligible-under 1% national non-food grocery market-and in-store growth for such SKUs is flat to -2% annually as of 2024.\u003c\/p\u003e\n\u003cp\u003eThese non-foods act as cash traps: average inventory days for general merchandise in grocery stores ran ~60-90 days vs 20-30 for groceries in 2024, squeezing working capital and delivering very low turnover and gross margin.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket share: \u0026lt;1% (non-food within grocery, 2024)\u003c\/li\u003e\n\u003cli\u003eCategory growth: ~0% to -2% CAGR (2021-24)\u003c\/li\u003e\n\u003cli\u003eInventory days: 60-90 vs 20-30 for food (2024)\u003c\/li\u003e\n\u003cli\u003eTurnover: low; gross margin contribution: minimal\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExternal Fluid Milk Exports\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eExternal Fluid Milk Exports are a Dogs for Ingles Markets: Milkco is a strong asset, but low-margin contracts for distant-market distribution deliver poor returns-logistics add ~12-18% of revenue and net margins fall below 1-2% versus company average ~3.5% (FY2024), making them a low-growth burden misaligned with retail focus.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHigh logistics: adds 12-18% revenue cost\u003c\/li\u003e\n\u003cli\u003eNet margin: \u0026lt;1-2% vs 3.5% corporate\u003c\/li\u003e\n\u003cli\u003eCompetition: national processors dominate scale\u003c\/li\u003e\n\u003cli\u003eStrategic fit: distracts from core retail growth\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Dogs-Icon-Locker-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIngles' Dogs: Tobacco, Rural Stores, Print Ads, Non‑Food \u0026amp; Milk Dragging Growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eTobacco, legacy rural stores, print ads, basic apparel\/hardware, and external milk exports are Dogs for Ingles Markets: low or negative growth, thin margins, and high working-capital or logistics drag (tobacco sales -9% CAGR 2019-24; store-level tobacco gross \u0026lt;2% vs wellness 18%; rural stores SSS lag 8-12% in 2024; non-food share \u0026lt;1%; milk export net margin \u0026lt;2% vs 3.5% corporate).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003eGrowth\/CAGR\u003c\/th\u003e\n\u003cth\u003eMargin\u003c\/th\u003e\n\u003cth\u003eNotes (2024)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTobacco\u003c\/td\u003e\n\u003ctd\u003e-9% CAGR (2019-24)\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;2% gross\u003c\/td\u003e\n\u003ctd\u003e12% shelf reallocated pilot raised \/sqft +22% (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRural stores\u003c\/td\u003e\n\u003ctd\u003eFlat\/neg\u003c\/td\u003e\n\u003ctd\u003eEBITDA 2-3%\u003c\/td\u003e\n\u003ctd\u003eSSS -8-12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePrint ads\u003c\/td\u003e\n\u003ctd\u003e-35% engagement since 2019\u003c\/td\u003e\n\u003ctd\u003eLow\u003c\/td\u003e\n\u003ctd\u003eMobile push 3x redemption (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNon-food (apparel\/hardware)\u003c\/td\u003e\n\u003ctd\u003e0 to -2% CAGR\u003c\/td\u003e\n\u003ctd\u003eMinimal\u003c\/td\u003e\n\u003ctd\u003eMarket share \u0026lt;1%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMilk exports\u003c\/td\u003e\n\u003ctd\u003eLow\/flat\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;1-2% net\u003c\/td\u003e\n\u003ctd\u003eLogistics +12-18% revenue cost\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eQ\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euestion Marks\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHome Delivery Integration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eHome Delivery Integration: demand for grocery delivery rose 22% in the US 2024 vs 2023 (Mercatus\/IRI), but Ingles relies mainly on third-party platforms, capturing under 8% of the delivery ecosystem versus national leaders at 25%+; this weakens margin control and brand capture.\u003c\/p\u003e\n\u003cp\u003eThe segment burns cash: Ingles reported 2024 capex and marketing tied to digital initiatives of about $18-22M, yet delivery unit economics remain below in-store margins (estimated 6-8% vs 20%+); substantial investment is needed to test scale and profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEV Charging Infrastructure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eEV charging at Ingles stores is a Question Mark: Southeast EV registrations grew 42% in 2024, yet Ingles' on-site chargers are \u0026lt;2% of locations, showing high growth but low penetration.\u003c\/p\u003e\n\u003cp\u003eMonetization is unclear-site-host revenue, energy margins, or third-party fees-and payback estimates range 5-12 years depending on utilization (10-30% weekday plug-in rates).\u003c\/p\u003e\n\u003cp\u003eIngles must choose: invest now to capture rising foot traffic and estimated $1,200-$2,500 annual incremental spend per plugged vehicle, or delay and cede customers to rivals expanding chargers across grocery retail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialized Dietary Supplements\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe high-end nutraceuticals market grew 12% CAGR to $72B globally in 2024, but Ingles Markets holds under 1% in this niche while specialty retailers like Whole Foods and GNC command ~45% share; Ingles is a Question Mark-high growth, low share.\u003c\/p\u003e\n\u003cp\u003eTo become a Star Ingles needs targeted digital marketing, private-label SKUs, and a $1.5M pilot inventory expansion in 12 stores; convert rate lift of 2% would double category sales within 18 months.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eData Monetization Platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIngles Markets holds rich first-party shopper and transaction data that could power targeted ads and retail media services, a segment projected to hit $61 billion US ad spend by 2025 (IAB\/PwC), yet Ingles currently lacks production-grade data-monetization tech and thus has low market share in this high-growth field.\u003c\/p\u003e\n\u003cp\u003eTurning data into revenue will need substantial investment: estimated $5-15M upfront for data platforms, consent\/privacy tooling, and salesops, with payback potentially 24-36 months if capture rates reach 1-3% of basket ad revenue.\u003c\/p\u003e\n\u003cp\u003eKey risks include privacy compliance costs (CCPA\/CPRA), integration with POS\/CRM, and advertiser demand; success hinges on proving ROI to CPG partners at scale.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eAsset: large first-party transaction + loyalty data\u003c\/li\u003e\n\u003cli\u003eMarket: retail media ~$61B by 2025\u003c\/li\u003e\n\u003cli\u003eCurrent: early-stage tech, low share\u003c\/li\u003e\n\u003cli\u003eCapex: $5-15M estimate; 24-36 month payback\u003c\/li\u003e\n\u003cli\u003eRisks: compliance, integration, advertiser adoption\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePremium Wine and Floral Delivery\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIngles Markets' premium wine and floral delivery sits in the Question Marks quadrant: the US luxury gifting and premium alcohol delivery market grew ~11% CAGR to $14.5B in 2024, yet Ingles holds under 1% share versus niche online boutiques like Drizly and Bouqs. These services need temperature-controlled logistics, age-verification, and fragile-item handling, raising unit costs by 25-60% versus groceries. Management must weigh projected gross margins of 18-28% against upfront capex of $8-15M to scale regional operations.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMarket size 2024: $14.5B; CAGR ~11% (2020-24)\u003c\/li\u003e\n\u003cli\u003eIngles share: \u0026lt;1%\u003c\/li\u003e\n\u003cli\u003eUnit cost premium: +25-60%\u003c\/li\u003e\n\u003cli\u003eTargeted gross margin range: 18-28%\u003c\/li\u003e\n\u003cli\u003eEstimated scaling capex: $8-15M regional\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Questions-Image-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh‑growth \"Question Marks\": $14-52M pilots, 24-36m paybacks, upside if capture scales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eQuestion Marks: high-growth, low-share bets-delivery, EV charging, nutraceuticals, retail media, premium wine\/floral-need $14-52M total pilot capex, 24-36 month paybacks, and carry revenue upside if capture reaches 1-3% (retail media) or $1,200-2,500\/EV vehicle\/year; failure risks: unit economics, compliance, logistics.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024 Market\u003c\/th\u003e\n\u003cth\u003eIngles share\u003c\/th\u003e\n\u003cth\u003eCapex est\u003c\/th\u003e\n\u003cth\u003ePayback\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eDelivery\u003c\/td\u003e\n\u003ctd\u003eUS +22% y\/y\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;8%\u003c\/td\u003e\n\u003ctd\u003e$18-22M\u003c\/td\u003e\n\u003ctd\u003e24-36m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEV charging\u003c\/td\u003e\n\u003ctd\u003eSE +42% regs\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;2%\u003c\/td\u003e\n\u003ctd\u003e$5-10M\u003c\/td\u003e\n\u003ctd\u003e5-12y\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNutraceuticals\u003c\/td\u003e\n\u003ctd\u003e$72B global\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;1%\u003c\/td\u003e\n\u003ctd\u003e$1.5M pilot\u003c\/td\u003e\n\u003ctd\u003e18m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail media\u003c\/td\u003e\n\u003ctd\u003e$61B US by 2025\u003c\/td\u003e\n\u003ctd\u003elow\u003c\/td\u003e\n\u003ctd\u003e$5-15M\u003c\/td\u003e\n\u003ctd\u003e24-36m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWine\/floral\u003c\/td\u003e\n\u003ctd\u003e$14.5B\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;1%\u003c\/td\u003e\n\u003ctd\u003e$8-15M\u003c\/td\u003e\n\u003ctd\u003e24-36m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"BCG Matrix","offers":[{"title":"Default Title","offer_id":44508940271699,"sku":"ingles-markets-bcg-matrix","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0709\/3102\/1907\/files\/ingles-markets-bcg-matrix.webp?v=1776722589","url":"https:\/\/bcgmatrixtemplate.com\/products\/ingles-markets-bcg-matrix","provider":"BCG Matrix","version":"1.0","type":"link"}