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This report provides an in-depth examination of the UK cooking and baking 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 cooking and baking 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 cooking and baking 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 cooking and baking market.
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Key Market Issues
1. Understand how the market's performing
This report forecasts what the size of the cooking and baking 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 is 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.
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Conlumino estimates that between 2007 and 2011, total expenditure in the Cooking and Baking category increased 3.1% to £1,04bn. Demand has benefitted from a more austere consumer, the continued influence of the dine-at-home trend and rising popular interest off the back of television shows such as 'The Great British Bakeoff'. Baking sub-categories have been the outperformers, with consumers viewing baking as a thrifty, cost-saving pursuit.
Interest in cooking and baking is on the rise, and consumers are displaying greater ambition in the kitchen. According to our research, 30.6% of consumers have thrown a dinner party at home during the past six months, with 11.6% doing so more than the year previous. 31.2% of consumers also said that they had baked at home more compared to the previous year. However, with 'replacement' being the primary driver of demand for 83.0% of consumers, manufacturers and retailers face a challenge to bring products to the market which are innovative and can provide greater convenience and easier solutions to cooking and baking.
The grocers dominate the market, holding just over a fifth of total expenditure. However, Cooking and Baking remains highly competitive, and some retailers are enjoying success off the back of developing own-brand ranges, differentiating through innovation and enhancing the shopping experience through service initiatives. Over the next five years, we forecast that John Lewis, Lakeland, Asda, Ikea, Sainsbury's and Wilkinson will be the outperformers.
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