Value-conscious German shoppers are still extremely driven by the desire for best bargain, which is motivating a fifth (19.8%) of bakery and cereals consumption, according to a new data from Canadean.
The report showed that of particular importance to German consumers is the desire to treat themselves when purchasing these types of products.
Germany's bakery and cereals market, which had a volume of 6.4 billion kilos and a value of USD25.9 billion in 2014, is forecast to register a CAGR of 1.1% between 2014 and 2019 by volume, and a lower CAGR of -0.5% by value.
"More consumers have turned to retailers such as Aldi and Lidl in the search for value, leaving more premium brands with a challenge to justify higher prices to consumers," said Veronika Zhupanova, analyst at Canadean.
Almost a third of bakery and cereals consumption are motivated by superior taste sensations (31.9%), said Canadean, reflecting how German consumers consider indulgence to be worth trading-up for.
This is especially true for cookies, where this desire motivates 40.6% of consumption, as well as for cakes, pastries & sweet pies (36.8%) and savoury biscuits (34.9%). Zhupanova adds: “As consumers prioritise taste above all, manufacturers can target them with decadent flavour combinations, such as breakfast cereals with dark chocolate, sweet pomegranate seeds and savoury-nuts.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Maike Baeumer. To subscribe to ESM: The European Supermarket Magazine, click here.
