The Great British Bake Off is back on TV screens tonight, presenting retailers with another key opportunity to engage shoppers and cook up addition sales.
The UK cooking & baking market is forecast to grow by £21.4m this year to reach £1.1bn, with much of this growth set to be fuelled by the popular TV show, according to Verdict Retail.
With 78% of cooking & baking purchases replacement-driven, The Great British Bake Off represents a key opportunity for retailers to drive purchases outside of the replacement cycle, Verdict Retail analyst, Andrew Hall said.
However, while retailers needed to offer innovative and inspirational product ranges, they must not lose sight of the need to remain price competitive, he warned.
“As discounters and fixed price players such as Poundland expand their presence in the market, grocers must ensure they remain competitive on price allowing them to capture impulse purchases.
“This is particularly pertinent given that 65% of cooking & baking shoppers cited price as a driver of purchases and over half see baking as a good way to save money,” he added.
The show also provides retailers with another golden chance to engage with shoppers over social media.
“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,” Hall added.