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bbi-2023-06-Cost versus value

By Kate Kehoe, Marketing Executive, FMCG Gurus

With rising prices having become a major concern for consumers, the bakery industry faces the challenge of offering products that not only meet consumers’ expectations but also provide good value for money.

While cost is certainly a factor, consumers are increasingly seeking products that offer a balance between price and quality. Bakery brands need to adopt strategic positioning and strategies that emphasize the value of their products. This involves showcasing maximum efficacy, health-boosting benefits, and excellent taste of their bakery products. By doing so, brands can instill confidence in consumers that their purchases will not only be enjoyable but also provide them with specific need states, benefits, and value.