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Shoppers continue to invest in premium products at retail, despite inflation. Year-to-date, perimeter bakery cakes have brought in an incremental $31M vs YA.
Source: Circana Integrated Fresh Panel, YTD ending 11/05/23
Total Bakery saw higher dollars per buyer and dollars per trip while declined basket size and frequency in L4W vs YA.
Retailers should dedicate the appropriate space to these products.
→ INSIGHT: Consumers continue to seek out better-for-you choices in Breads and elevated experiences in Sweet Goods.
→ OPPORTUNITY: Review current assortment and future innovation to promote better-for-you attributes and new taste experiences.
→ INSIGHT: Shoppers concern over prices have changed behaviors with looking for sales and deals and cutting back on non-essentials being the top behavior changes. National Brands are losing share within many Breads and Rolls categories.
→ OPPORTUNITY: Develop a portfolio and/or frequency game plan to recover lost/lapsed buyer. Capture shoppers in-store
Looking toward the holiday season, the majority of consumers expect to celebrate in a similar fashion to what they did last year. This includes similar expectations for the size and nature of home-cooked meals for family and friends. While unit pressure has had a profound impact on grocery sales for the past two years, holidays are an important reason to include more premium items and treats — underscoring the importance of suggestive selling in-store.
Source: – Volume 1, Available here: https://www.circana.com/intelligence/reports/2023/thanksgiving-tracker/ps://www.circana.com/intelligence/reports/2023/thanksgiving-tracker/
86% of shoppers will prepare of attend a meal with family or friends. Opportunity to advertise and draw attention for these shoppers.
Use displays, packaging and signage that positions products for specific escapes, indulgences and events.
Join our hosts, as they explore the market and consumer shifts that have impacted the in-store bakery department. By listening you will get access to an introduction of Rich’s proprietary in-store fresh bakery shopper segments that you won’t want to miss!
