Bread accounts for the majority shares in baked goods in Georgia, as it is a ubiquitous staple for consumers. The unit price in bread has seen an ongoing rise in recent years, due to a poor grain yield in Russia.
One trend noted in relation to COVID-19, is a higher consumer preference for packaged goods as opposed to unpackaged goods. This is because of stricter hygiene rules overall, plus consumers’ wariness about contamination from COVID-19.
Puri Ltd maintains its lead in baked goods in 2020, thanks to its top Baton brand. The category is highly fragmented, with no single player holding a double-digit share.
As per the trend noticed in unit prices in bread and the subsequent efforts to assist recovery for bread manufacturers, it is expected bread will stabilise in price to a degree over the forecast period – benefitting both consumers and players overall. It is also important to keep unit prices as affordable as possible for consumers, especially considering the high degree of job losses in the country, caused by COVID-19 and leading to an economic downturn.
As seen with the enhanced trend for advertising, it will become increasingly important for players in baked goods to advertise their wares across a wide range of channels, from television and radio, to social media. Furthermore, with fewer in-store shopping occasions due to COVID-19 measures, holding optimum shelf space and having in-store promotions will no longer be enough to remain front-of-mind for consumers.
It is also important for players to observe and meet changing consumer trends, for example the noted switch from unpackaged to packaged goods for hygiene reasons. One of the traditional marketing tools within bread was for it to be freshly baked in front of consumers and sold unpackaged, hot from the over, enticing consumers with the delicious aroma.
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This report originates from Passport, our Baked Goods research and analysis database.
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