How do I stay updated on baking trends and growth opportunities?
Baking is always subject to changes in fashion and taste, so how does a busy bakery owner or manager keep up with it all?
One obvious answer is social media. But with everyone pushing their own particular brand, this can be a truly discordant experience.
I am going to suggest three, slightly more traditional, ways of keeping abreast of the trends you really need to know about. Plus, I’ll outline why looking closely at the trends within your own bakery can reveal even more.
My first suggestion is to read the baking trade magazines and check out their websites. I have been an avid reader of these publications for years. When it comes to true trends, it’s these guys that are always on the button first.
There are scores of journalists working across multiple bakery publications whose job it is to write about nothing else. They also work on some of the oldest magazines in existence. The UK’s British Baker, for example, started in 1885. In the United States, Milling & Baking News first rolled off the presses in 1922.
So, whether it’s new fashions in flavors, ingredients, or NPD, or deep underlying trends on consumers’ changing preferences, the trade title writers tend to know a thing or two about what counts in our industry.*
Plugged in
While many commercial bakeries are well plugged into the media outlets that serve them, it is quite common to find those that are not. The same goes for awareness of bakery trade organizations. So, my second suggestion is to figure out which baking trade organization best represents your business and join it.
Newer entrants to the baking market may not be aware of the advantages of membership of these associations. But there is a huge amount of support, networking, and deep discussion of every serious trend under the sun to be had from all of them.
Associations such as the Retail Bakers of America and the Bread Bakers Guild of America, or, in the UK, the Craft Bakers Association and Scottish Bakers, hold regular conferences and online events, as do Australia’s National Baking Industry Association and Baking Association of Australia.
Here, you will find discussions on everything from new product formats and recipes to the intricacies of employment law, and from bakery success stories to the latest industry statistical analysis. Plus, there is nothing as educational as a room full of fellow bakers.
I went to my second triennial International Baking Industry Exposition in Las Vegas back in September. I was reminded that nothing beats the learning experience of going to seminars, hearing from experts, and walking the floors of a big expo.
So, my third suggestion is to go to the bakery conferences and trade shows.
Underlying trends
My fourth suggestion is to look more closely at the underlying trends within your own business.
For example, if you are a retailer, which of your products constantly sell out? If you run a retail chain, which products sell better in which store locations? Also, which products are resulting in too much waste? And, importantly, are there any products that are working out as too costly to make?
Whether you are a retailer, a wholesaler, or both, all manufacturers of baked goods need to know which products generate the most revenue and profit, and which categories are gaining momentum (see the Cybake screenshot below).
Ideally, you should be able to see the growth (or not) of products on a week-by-week, month-on-month, and year-on-year basis. This way, you can see seasonal spikes and track wider trends like how your bread category is doing against, say, sweet treats.
With multiple product lines and variable ingredient costs, compiling all this information in a way that makes it easy to analyze is difficult. However, you can free yourself from Excel tyranny, save an awful lot of time, and have all this data presented for you clearly by deploying bakery ERP software.
Your interpretation of each trend within your bakery is invaluable. Raw figures on a spreadsheet won’t sell your products or find you opportunities for growth, but your own insight will.
* You can see a good mix of the bakery-related publications in the territories we operate in on our press coverage page.
** You can see a list of all the associations we support on our affiliations page.
Want to know more about how bakery ERP software can unlock the trends in your bakery? Get in touch today!
Rachel Hindle is the Global Sales & Marketing Manager of Cybake.
