With ‘The Great British Bake Off’ back on screens, retailers will again strive to convert the popularity of the hit BBC TV series into sales.
The UK cooking and baking market is forecast to grow by £21.4 million this year to reach £1.1 billion, according to research from retail information specialist Verdict Retail, with growth fuelled by highly engaged consumers with varying skills who are inspired and eager to try baking at home.
However, Verdict Retail said that given the fierce competition, retailers cannot be complacent and must showcase a differentiated proposition alongside value for money, customer engagement and online accessibility.
Verdict Retail analyst Andrew Hall said: “Targeting shoppers across differing skill levels and with varying demand presents a real challenge, especially in stores where space is restricted.
“These retailers must better utilise online platforms to showcase extended cooking and baking ranges, driving shoppers to the channel via editorial content such as recipes and GBBO articles,” he said.
For viewers, tweeting during episodes using the #GBBO hashtag has become an integral part of the experience – and this presents an opportunity for retailers to demonstrate their relevance, he noted.
With 31% of cooking and baking shoppers conducting research online before making a purchase, brands can also use social media to drive awareness of their ranges and showcase brand personality.
In addition, Verdict Retail noted that with 78% of cooking & baking purchases replacement-driven, ‘The Great British Bake Off’ represents another chance for retailers to drive purchases. To achieve this, it said, retailers must ensure collections are innovative and aspirational in order to justify price points in such a competitive market.
Andrew commented: “As discounters and fixed price players such as Poundland expand their presence in the market, retailers must ensure they remain competitive on price allowing them to capture impulse purchases.
“This is particularly pertinent given that 65% of cooking and baking shoppers cited price as a driver of purchases and over half see baking as a good way to save money.”