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In-Store Bakery Savoury Pastry Introduction

In-Store Bakery Savoury Pastry Introduction. NEW Savoury Pastries Innovation in the Category. With history of success from Europe Successful product line from our sister company in the U.K. Success in the UK.

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In-Store Bakery Savoury Pastry Introduction

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  1. In-Store BakerySavouryPastry Introduction

  2. NEW Savoury PastriesInnovation in the Category

  3. With history of success from Europe • Successful product line from our sister company in the U.K.

  4. Success in the UK • The SavouryISB segment is worth £11.8m with strong year on year growth, both in sales (value) and volume Value & volume and % growth – UK ISB Savouries +5.9% +3.6% +9.3% +5.9% 52 WE 9/21/10 52 WE 9/20/11 52 Weeks Ending Aug. 18, 2012 Source: Nielsen scantrack to 18th August2012

  5. Savoury ISB is a clear and distinct group to shoppers, highlighting the need to have a strong range available Fresh sweet bakery Pre-pack sweet products Sandwiches Fresh savoury bakery Pre-pack meat products On the go lunch options Source: UK Leapfrog research December 2011 • Crisps/savoury snacks Chocolate Bread for sharing

  6. Characteristics of each sector • Fresh sweet bakery • Continental, sophisticated associations • Treat connotations • With hot drink • ISB, ‘freshly baked’ • ‘The ones you serve with tongs’ • Pre-pack sweet products • In home consumption (for whole household) • Planned purchase • Relatively long life once in home • Sandwiches • Default purchase for lunch (+ other occasions) • Wide range of options • ‘Proper food’; opportunity to be more or less health/nutrition conscious • Fresh savoury bakery • Immediate link with hot serving for many • Relatively filling; comfortably nourishing • Pre-pack meat products • Old fashioned, traditional • Meat based • Very filling • Manufactured, synthetic • Limited appeal for women • On the go lunch options • Filling • Relatively balanced/healthy • Small meal > snack • Crisps/savoury snacks • Light snack • Accompaniment as well as on own • Typically ‘grazing’ when bored • Chocolate • ‘Pick me up’ (emotionally and when have ‘munchies’) • Fun • ‘Naughty’ • Bread for sharing • In home • Family/friends, informal meal occasion • Sophisticated

  7. Success in the UK • Who is the consumer of savoury pastries? • Savouries have mainstream appeal with a slight bias towards the convenience shopper • Tend to eat ‘on the go’ and are impulsive in behavior, with price being less of a concern • Prone to addictive cravings and emotional snacking, often giving into impulse purchases later in the day • We expect the target consumer in the U.S. to match this demographic Who buys my brand (index vs total store) – UK Savouries Source: Loyalty card data

  8. Introducing SavouryPastries in the U.S.

  9. U.S. Industry Trends: Traditional Dayparts are Blurring • Mini meals are on trend: • Nutritionists recommend smaller meals with greater frequency to promote healthy metabolism • 78% of operators have seen an increase in off-peak hour business (2-5pm) • Key portion of afternoon snack choices resemble lunch orders • Breakfast menus/hours are being extended Savoury Pastries are perfect for mini meals. Savoury pastries appeal to all dayparts and have the broadest appeal as a snack or as a light meal when paired with a soup or salad. Sources: Datassentials’ Foodbytes, Restaurant Industry Analysis – NPD Group

  10. U.S. Industry Trends: Demand is Rising for Portability • Restaurants and foodservice operations are reporting increased offerings of smaller portable foods • IDDBA “What’s in Store 2012” released these in-store bakery trends • Single serve offerings are growing in popularity • Consumers see mini pastries as a lower calorie option and often buy more than one • Three factors are critical for mini products’ success in the in-store bakery: • Value • Innovation • Point-of -Sale Packaging (create a system to make 1 or 2 portions available) • Among C&U Foodservice Operators who offer grab & go, an average of 25% of their revenue comes from portable foods Savoury pastries are highly portable and do not need to be refrigerated. Sources: IDDBA, Fresh Facts® Shopper Insights, NPS Group/CREST OnSite

  11. Savoury Pastries Product Profiles

  12. Savoury PastryCheese Twist • All butter pastry • Twisted and topped with Mozzarella and Swiss cheeses • Flavored with a dash of Dijon mustard • Portable shape for on-the-go eating, to be served hot or ambient • Freezer to oven ease • Bakes in 15 minutes

  13. Savoury PastryTomato & Cheese Swirl • Rich tomato filling in a soft bread swirl • Topped with Gouda cheese and basil • A unique spin on a mealtime favorite – pizza – but in a unique snacking format • Portable shape for on-the-go eating, to be served hot or ambient • Freezer to oven ease • Bakes in 15 minutes

  14. Savoury PastrySpinach & Ricotta Braid • Delicious pastry wrapped around a filling of spinach, Mascarpone and ricotta cheeses • Topped with finely grated Parmesan cheese • Portable shape for on the move eating. • Best served hot • Freezer to oven easy • Bakes in 20 minutes

  15. Savoury PastrySummer Vegetable Braid • A filling of summer vegetables (zucchini, red and yellow peppers) in a rich tomato sauce • Encased in flaky puff pastry with a herb crumb topping • Portable shape for on-the-go eating, to be served hot or ambient • Freezer to oven easy • Bakes in 25 minutes

  16. Savoury PastryRecap Our savouries can be served as a mini meal, enabling you to maximize sales and profits. Portable shapes make our savouries perfect for eating on-the-move. Great as hot snacks and also delicious ambient. They do not need to be kept warm, eliminating hot cabinet costs. Versatile products – they’re great as a soup accompaniment or even as bruschetta. Short bake times for convenience and quick turnaround time.

  17. Savoury PastryExecution in Store • More learnings from the UK: • Secondary placement of SavouryPastries is crucial in driving impulse purchases, particularly for ‘busy workers’ • Decision regarding sweet versus savoury is usually made outside of the store, however, it is possible to encourage impulse purchasing • Category requires prominence within ISB as well as other locations to disrupt shopping mission and tempt them to buy (e.g. display as entering larger supermarkets, by checkouts, etc.) • Some shoppers visit an outlet looking for it to provide ideas for purchase, but won’t browse the whole store • ‘ Sometimes I am looking for something as a bit of a change from the usual sandwich, but I haven’t got much time so I will not wander all over the place’ Source: UK Leapfrog research December 2011

  18. Summary & Pricing • The SavouryISB segment is worth £11.8m in the market and posting strong growth • Fresh SavouryISB is a clear and distinct group to shoppers, highlighting the need to have a strong range available • SavouryISB appeals to snacking and lunch missions in store, however, placement alongside the substitution set is key for the lunch occasion as shoppers have limited time to walk the store • Secondary placement of SavouryISB is crucial in driving impulse purchasing outside of the bakery category, particularly for ‘busy workers’ • Savouries is an area in the US and fits with US eating trends • Prices reflect delivered cost • All items are bulk packed • Order lead time is 7-10 days for repeat order; 6 weeks for first time orders

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