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This report provides an in-depth examination of the UK food preparation retail market covering market data, key retail players and consumer behavior.
Introduction and Landscape
Part of Conlumino's home retail research programme, this report provides detailed and comprehensive insight into what consumers are buying across the food preparation category, what they're spending, where they're shopping and why. The report also reviews leading players in the market and assesses their future prospects. Strategic analysis helps you to understand what actions your business needs to take in the market to win over the next five years.
Key Features and Benefits
The report covers:
We provide overall, sector, category and product market values to give you a detailed overview of market potential; current and historic values are included
On a sector and category level we provide future forecasts over a five year timeframe; at product level we provide a directional forecast over a two year time window
Market shares for the leading retailers are included at category level. A future outlook is also provided for the main players to help you understand the future direction of market share.
The leading retailers are profiled: critical metrics like store numbers, financials and, shares are provided along with an analysis of current strategy and future outlook.
Statistics on who's shopping for what are provided; these give a clear view on the most important consumer segments and groups.
The overall dynamics of the food preparation category are provided; this gives an understanding of the drivers of demand both currently and over the next five years.
Ideation and innovation:
Using all data and analysis, we provide broad suggestions for winning strategies that successful businesses will need to employ in the food preparation market.
Key UK Food Preparation Retail Market Issues:
1. Understand how the market's performing
This report forecasts what the size of the food preparation market will be over the next few years and give an indication of the sources of growth. In today's turbulent market knowing where things are likely to go is essential for planning.
2. Explore the trends in the market
The report is written and complied by experts in the retail market. Rather than just presenting a mass of raw data, this expertise ensures the report explains why certain trends and patterns exist. In turn this allows you to understand the context of the market which aids your own decision making.
3. See what actual consumers think about your brand
The report contains analysis direct from the very people that shape demand: consumers. A whole range of consumer dynamics are included, explaining purchase triggers, brand and retailer preferences and conversions, and purchase considerations. In short they allow you to understand what people think about your brand or store.
4. Use the reports to shape strategy
The reports just leave you hanging. They contain practical tips and advice on how to succeed in the market and are a source of ideas. The analysis and insight help you with planning, strategy and exercises such as repositioning or brand development.
Overall, the food preparation market will see solid levels of growth thanks, in large part, to the more austere consumer mindset which is driving a trend towards increased dining at home rather than eating meals out. Basic items within the food preparation category, such as utensils and accessories, have not benefitted from favorable drivers of demand to the same extent as more specialist, niche items. Everyday items such as knives and serving spoons are already widely owned, even by occasional cooks, so there has not been enormous scope for retailers to drive increased levels of penetration. Food preparation gadgets, on the other hand, have stronger growth potential.
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Within the last year just over 53% bought at least one product from the food preparation category. This level is somewhat lower than for cooking and baking which, in large part, reflects the fact that existing ownership of items is already high. At a sub?category level the percentage of consumers buying falls away quite sharply. For example, around 17% of consumers bought food preparation accessories, 30% everyday utensils, 28% specialist gadgets, and 20% cutting and protective boards. This reflects the fact that in general most consumers are buying relatively few items from the category each year rather than a large number of items across multiple subcategories.
Given the disparate nature of the product mix and the ease with which non?specialist home wares players can add elements of food preparation to their propositions, it is unsurprising that the market is highly fragmented. Indeed, the top ten players attain well under 50% of the total market. That noted, the grocers, and in particular Tesco and Asda, hold a strong position in the market with a combined share of almost 20%. Looking ahead 5 years, we forecast that retailers such as John Lewis, ASDA, Ikea and Sainsbury's and Wilkinson will grow share.
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