Many consumers spent significantly more time at home during 2020 due to COVID-19. Many bakeries reduced their opening hours and were less frequented by customers, as many of them avoided public places.
In-store bakeries are ubiquitous in modern grocery retailers outlets in Chile, and this is a major reason for the very strong position of artisanal producers in baked goods. With supermarkets and hypermarkets growing in popularity among consumers due to the rise of one-stop shopping, a growing number of them are purchasing their unpackaged baked goods from such outlets.
E-commerce had been steadily growing in importance in baked goods over the course of the review period, but COVID-19 has greatly accelerated this trend. During the lockdown, some bakers began to take orders online and delivery baked goods, particularly bread, directly to consumers.
Despite the impact of COVID-19, bread continues to play a central role in the diets of Chileans. As a result, growth in retail current value sales of bread is set to rebound strongly during 2021, with this strong performance persisting over the course of the forecast period.
Unpackaged leavened bread, the leader in baked goods, will return to retail current value sales growth in 2021. The main driver of this will be a strong rebound in economic activity, which will outweigh the impact of the growth of e-commerce, where value sales of packaged bread tend to be much higher than those of unpackaged bread, and the fact that a significant number of people will continue to work from home.
Bread is particularly popular among higher-income households due to its convenience, and this popularity has been reinforced by the recent emergence of health and wellness variants and smaller loaves, which better facilitate portion control. With consumers becoming more interested in health and wellness, better for you products are becoming more widely available, particularly in supermarkets.
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This report originates from Passport, our Baked Goods research and analysis database.
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