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BAKKAVOR ANNUAL REPORT AND ACCOUNTS 2012
macro trends
3. financial insecurity
6 in10
our best-selling
uk family ready meal
2012: chicken tikka
massala
shoppers claim to be buying more
on promotion since the start of
2012 and half are looking out
for promotions before
going shopping. 10
macro trend
GLOBAL ISSUES – LOCAL WORRIES
Macroeconomic issues are impacting the
spending habits and behaviour of consumers.
High national debt, continued uncertainty
in the euro zone, GDP slow-downs, rising
unemployment and higher living costs are
having a tangible impact on everyday lives.
15 million British consumers worry about their
finances every single day 11 .
consumer trends
SMART SHOPPING
People have adopted a ‘recessionary mindset’
and are becoming ‘smart shoppers’, comparing
prices, responding more readily to promotional
offers and buying more selectively.
ENJOYMENT & INDULGENCE
Despite the recession, people still feel the
need for a reward and look for affordable ways
to treat themselves, family and friends, as
evidenced by the rise in in-home dining.
Stress and financial uncertainty often
cause people to look back to the past for
reassurance and comfort. As a result old
‘classics’ are being revived. Complementing
this trend is a heightened demand for local
and national products, symbolising values,
beliefs and identities.
retail trends
VALUE & PROMOTIONS
In today’s highly competitive and recessionary
environment, private label developments
remain of strategic importance to retailers.
Offering private label ranges at different price
points (from budget to premium) enables
retailers to strengthen their share and provide
customer choice.
Retailers are also employing selective private
label promotions such as ‘Meal deal’ and ‘Dine
In’ offers (a pick and mix selection for a fixed
price) to help consumers save money and
benefit from the trend for in-home dining.
CLASSIC RE-INVENTION
valuing private
label
“I’m going to budget more with food
prices going up. I’ll switch to more
supermarket brands to save money.” 12
To meet demand for old favourites, retailers
are promoting classic dishes using local or
regional ingredients. In the UK, this trend was
particularly prominent in 2012 owing to events
such as the Royal Jubilee.
Grocery retailers are re-introducing traditional
fresh food counters in store, providing
consumers with a personal service, the ability
to choose specific products and quantities and
to ask advice from experts.
what does this mean
for bakkavor
By working with retailers to focus on private
label products (from premium to value and prepackaged
to over-the-counter ranges) Bakkavor
is able to develop products quickly and at
different price points to meet consumer needs.
bakkavor action: 2012
MEAL DEALS
We make starters, main courses, side dishes
and desserts. Our products featured regularly
in meal deal promotions.
CLASSIC FAVOURITES
We worked with our customers to introduce a
diverse range of high quality products for their
in-store counters including Mediterranean
deli products, patisserie cakes, pizzas and
speciality breads.
10 IGD Shoppervista, June 2012
11 Russell Investments
12 IGD: Winning Shoppers’ Trust Oct 2012
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