Food & Drinks Industry Day
UK Market Overview
27th November 2008
Economic Outlook
•
The UK is the 2nd largest economy in the EU after France
•
A key determinant for consumer spending will be the direction of
interest rates. The Bank of England (independent from governmental
control) targets to maintain inflation below 2%, and uses interest rates
as a lever to achieve this. Interest rates are on a downward trend, with
further cuts expected over the coming months.
•
Consumer confidence is at historically low levels, largely due to the
global financial crisis. Many banks have been part-nationalised, and
unemployment is rising steadily. However, oil prices have fallen
sharply, now averaging around $65 per barrel.
UK Statistics
National Data
– Population: 60.94m
– Number of Households: 24.9m
– Population Density: 249/km
The Economy
– Real GDP Growth: €2,543bn
– GDP per Head: €41,850
– Inflation: 3.7% (CPI)
– Unemployment: 5.5%
– Grocery Market Value: €176.1bn
Exchange Rate
– €1 = £0.84 (18.11.08)
Source: http://www.statistics.gov.uk
Demographics
Population Forecast (000’s)
Population Split by Age, 2008e (%)
70,000
67,013
64,727
65,000
16
16.9
61,892
60,000
59,835
58,789
67.1
65+
55,000
15-64
0-14
50,000
2001
2004
2011
2021
2031
Sources: Office for National Statistics, 2008, CIA World Factbook; IGD 2008
Demography: 10 most populated
regions
Region
Capital
Population
Population /
hectare
% Total
Population
Greater London urban area
London
8,278,251
50.99
14.1
West Midlands urban area
Birmingham
2,284,093
38.09
3.9
Greater Manchester urban
area
Manchester
2,244,931
40.20
3.8
Glasgow
1,749,154
40.60
3.0
Leeds/Bradford
1,499,465
40.52
2.6
Tyneside
Newcastle
879,996
41.72
1.5
Liverpool urban area
Liverpool
816,216
43.84
1.4
Nottingham
666,358
42.04
1.1
Sheffield
640,720
39.49
1.1
Bristol
551,066
39.42
0.9
Glasgow urban area
West Yorkshire urban area
Nottingham urban area
Sheffield urban area
Bristol urban area
Source: Office for National Statistics, 2004 (from 2001 census survey)
UK Economic
Overview
2005
2006
2007
2008e
1,792.89
1,892.23
2,016.32
2,099.80
1.8
2.8
2.9
1.4
29,767
31,220
33,180
34,536
Unemployment (%)
2.80
2.60
2.50
2.40
Food Price Inflation (%)
1.59
2.49
4.41
8.6
Consumer Price Inflation (%)
2.09
2.33
2.27
3.7
GDP (Nominal £bn)
Real GDP Growth (%)
GDP (Nominal) per Capita (£)
UK & Ireland Trade
2007
Total Irish Food & Drink exports
€8.6bn
Total Irish exports to UK
€3.95bn
→ 42% total
→ Ireland is UK’s No 2 supplier of food & drink
Total UK exports to Ireland
€2.7bn
→ Ireland is UK’s No 1 export market for food & drink
Irish Exports to GB & NI
2006 vs. 2007
1,400.00
2006
2007
1,200.00
1,000.00
800.00
€m
600.00
400.00
200.00
0.00
Meat Beverages Dairy
Misc
Live
Fruit & CerealsCoffee, Tea Sugar
AnimalsVegetables
etc
Food Category
Fish
Retail Grocery Market Overview
TNS Grocery Market Share
% by retailer
%
0
5
10
15
20
Total Tesco
14.7
Total Asda
14.2
Total Morrisons
10.8
Total Co-Op
3.7
Total Waitrose
3.6
Somerfield
3.3
Marks & Spencer
3.2
Aldi
2.1
Lidl
2
Total Iceland
1.8
Total Independents & Symbols
1.8
Total Retailer Share Track
Expenditure Share %
0.6
52 w/e 07 Oct 07
Source: TNS Oct 2008
30
27.5
Total Sainsbury's
Netto
25
52 w/e 05 Oct 08
Grocery Sector
Performance
Total Toiletries
6%
Total Household
8%
Total Alcohol
11%
5.7
Total RST
Total Alcohol
Total Healthcare
2%
Total Frozen
6%
Total Ambient
Groceries
27%
3.9
Total Ambient
Groceries
6.3
Total
Fresh+Chilled
7.0
5.2
Total Frozen
Total
-1.3
Healthcare
Total
Household
Total Fresh+Chilled
40%
Total
Toiletries
RST – Trading & Performance - 52w/e 5th October 2008
Source: TNS Oct 2008
3.0
4.3
Key Retail trends
Strong Value Focus Emerging
•Retailers with strong value for money credentials are winning in the current challenging trading environment.
•Aldi and Lidl, continue to grow sales strongly, while M&S and Waitrose have experienced declining like-for-like
sales.
•Reports suggest that Tesco is to cut its sales growth guidance for the UK for the first time in years as the
economy heads towards recession. According to City analysts Shore Capital, the largest grocery retailer in the
UK is budgeting for like-for-like sales growth of about 2%, which is lower than a normal forecast.
Trading Down to Budget Stores
•Cost-conscious consumers are giving up luxuries and trading down to budget stores
•More than 40% of shoppers have switched to cheaper brands.
•Two-thirds more shoppers are looking out for promotions.
•A third of shoppers are spending more time in the supermarket comparing prices.
•31% of adults say they are visiting discounters more often than they did 12 months ago.
Switch to Own Label
•Three in ten shoppers have made the switch from famous brands to own label
•Average shopping basket now holds 23% own label products.
•Almost two in three shoppers are more likely than ever to buy own label and just 3% say they never do.
Store ‘Price index’ vs
Sales performance
12 weekly RST sales growth
20
Top performing retailers are
those with the lower price
index
15
10
5
0
-5
0.7
0.9
1.1
1.3
1.5
1.7
Price Index
Price Index based on retailer price compared to market average across all RST markets
Source: TNS Nov 2008
1.9
Private Label Tiered
Performance
• Private label ranges have gained greater prominence in-store – a trend likely to continue
for the year ahead.
• Budget PL ranges have become a key strategic lever for retailers to demonstrate value
for money credentials.
• There has also been evidence of ‘trading down’ within the Private Label tiers – as can be
seen below
R o llin g 1 2 w /e % c h a n g e
50
40
30
20
10
0
-10
-20
12 W/e 08 12 W/e 03 12 W/e 28 12 W/e 25 12 W/e 20 12 W/e 15 12 W/e 09 12 W/e 04 12 W/e 30 12 W/e 24 12 W/e 20 12 W/e 15
Oct 06
Dec 06
Jan 07
Mar 07
May 07
Jul 07
Sep 07
Nov 07
Dec 07
Feb 08
Apr 08
Jun 08
Branded
Premium PL
Standard PL
Budget PL
Impact of the Credit
Crunch
‘How would you cut back
on spending?’
How do the panel claim that they would
change?
20.3
19.9
1st choice
18.5
2nd choice
17.0
12.5
12.4
10.7
11.3
10.310.5
8.8
6.8
6.7
4.1
5.4
4.9
3.5
3.1
3.0
Source: TNS Oct 2008
Health /
Personal Care
Transport /
Petrol
Food & drink
Housing/
household bills
Leisure facilities
Mobile phone
Music
Entertainment
SkyTV
Alcohol &
Tobacco
Clothing &
Footwear
Eating out
0.8
If families are on a tighter
budget, what areas ‘in
home’ would we expect to
grow?
Households with Kids – 3 m/e Spring 2008 vs. 3 m/e Spring 2007
Takeaway
Consumption
Social
Occasions
Visitor
Occasions
+3%
+40%
+23%
Data: TNS Worldpanel Usage – In Home Consumption12 m/e May 2008
Rising Grocery
Prices
Overall Grocery Impact….
…..price paid beginning to lag further behind true inflation levels…
So we are starting to make some changes…..
10
Inflation
Observed Price/Pack
Growth Rate
9
8
7
6
5
4
3
2
1
M
/e
W
12
12
W
/e
25
28
Source: TNS Oct 2008
ar
07
20
M
12
ay
W
07
/e
1
12
5
Ju
W
l0
/e
7
09
12
Se
W
p
/e
07
04
12
N
ov
W
/e
07
30
12
D
ec
W
/e
07
24
12
Fe
W
b
/e
08
20
12
A
W
pr
/e
08
15
12
Ju
W
n
/e
08
10
A
ug
08
07
Ja
n
06
ec
D
W
/e
03
12
W
/e
12
12
W
/e
08
O
ct
06
0
12 weekly growth in Packs
by price band
The ‘Budget’ price band sees greatest growth rate this year –
signs of shoppers trading down…
6
Switch to
Cheaper
products?
5
3
4
3
2
0
-2
-4
-4
-6
-8
-10
-10
-12
Budget
Source: TNS Oct 2008
Standard
Good
Premium
Super
Premium
The stores in highest growth in the
last 12 weeks are those with the
lowest Price Index…
Store ‘Price index’ vs Sales performance
12 weekly RST sales growth
30
Price Index based on retailer price compared
to market average across all RST markets
25
20
15
10
5
0
-5
0.7
Source: TNS Oct 2008
0.9
1.1
1.3
Price Index
1.5
1.7
1.9
Switching cascades down the
hierarchy as each tier flows to every
tier below. An implied price/value
ranking
Premium
Own Label
No Brand
Name
Branded
Standard
Own Label
Value Own
Label
Source: TNS Oct 2008
Line width is size of the switch
Bubble size is the total growth of the tier
Five Year Outlook for UK
Grocery Market
•
Economic turmoil: The credit crunch will continue to impact consumer
confidence over the coming years with leading economic experts predicting
a turnaround in 2010.
•
Food Inflation: While levels may have reached a peak food inflation is set
to remain a pervasive market influence over the next five years driven by
global demand and supply factors.
•
Fuel and Energy: will continue to trend upwards in the medium to long term
due to our dependence on fossil fuels.
•
The Value Imperative: Value will continue to assume an even greater role
as disposable income shrinks, weakening consumer confidence pushes
price up the agenda.
•
Retail Consolidation: Realisation of the Co-op acquisition of Somerfield.
Bord Bia Britain
Retail Programme Offer 2009
UK Retail Services Offer
•
Gap & Category Analysis
•
Product Concept Check / Lead Generation
•
Market Study Visits / Accompanied shops
•
Bespoke Research
•
Store Audits / Product Retrieval
•
Brand Projects
•
PR / Promotion
•
Distributor Search
•
Media Monitoring
Retail Intelligence
Programme
Providing Irish companies with up-to-date and relevant market information on the UK retail market.
Purpose:
With such a volatile retail market this programme aims to keep Irish companies abreast of relevant
changes in the UK retail environment.
Content includes:
Ø
Daily Media Report:: summarising all food and drink related articles in the following publications: The Times,
The Independent, The Financial Times, The Guardian, The Daily Telegraph, The Daily Mail and The Daily
Express.
Ø
Monthly Retail Report: The latest 12 weeks ending TNS Worldpanel grocery market share figures, published
monthly with commentary and data on top line grocery market performance. Each week a ‘focus on…’ section is
included (for example Impact of the credit crunch on Grocery retailing).
Ø
1st tier retailer reports published in August 2009: Extensive profiles of the multiple grocers in the UK with
details of their trading strategy, key financials, supply chain, customer profile, price and promotional strategy etc.
Also included is an overview of their buying structure with key buyer contact details included.
Ø
2nd tier retailer reports published in January 2009: Extensive profiles of the convenience multiples,
discounters, retail buying groups and retail cash & carry business in the UK. The report outlines company
background, turnover, range, marketing & promotional activity, distribution systems and buying structure with
key contacts and advice to new suppliers approaching any of these retailers.
Ø
Key Account Trading Statements; Interim and annual trading statements from key UK retailers
Costs: €800 exclusive of VAT @ 21.5%
UK Retail Intelligence
Programme
HOW TO BOOK
Fax: completed form to: 00 44 20 7278 7193
Email: michelle.butler@bordbia.ie
Post: completed form & payment to:
Bord Bia, Clanwilliam Court, Lower Mount Street, Dublin 2
Reference: UK Retail Intelligence Programme
UK Retail Intelligence Programme Booking Form
Contact Name
____________________________________
Company Name
____________________________________
Address
____________________________________
____________________________________
Email
____________________________________
Cost
€800 + €172 (VAT) = €972
Reference
UK Retail Intelligence Programme
Signature
____________________________________
Retail EXCEL
Programme
Programme assisting the generation of business leads and incremental
incremental sales in UK retail for
Irish client companies
Purpose:
Under the expert guidance of two UK retail mentors companies will gain a comprehensive understanding of
the UK retail market and their product suitability within this market. Key objectives and targets will be set for
each company in respect of key opportunities identified for their business in the UK retail market.
Content includes:
Ø
Full subscription to Retail Intelligence Programme
Ø
5 full day workshops
Ø
1 UK Market Study Visit
Ø
2x 2 hour one to one with retail expert
Ø
1 UK Retail State of the Nation/Currency Seminar
Workshop Facilitators:
Ø Adrian Rivers – former buyer Sainsbury’s and Shell UK
Ø Annette Peters – former product developer M&S
Costs
Ø
€2,625 exclusive of VAT @ 21.5%
Retail EXCEL
Programme
Programme assisting the generation of business leads and incremental sales in UK retail
for Irish client companies
Programme Timings
Workshop 1
Understanding UK Retail Market & Market Study Visit
London
15th & 16th January
One – to Ones
UK Retail One to Ones – Objective setting, 1 Page
supplier forms
Dublin
5th or 6th February
Seminar
UK Retail State of the Nation/Currency seminar
Dublin
26th February
Workshop 2
Key Account Management
Dublin
19th March
Workshop 3
Route to Market Planning
Dublin
23rd or 24th April
Workshop 4
Successful Negotiations, Pricing & Business Planning
Dublin
4th & 5th June
One – to Ones
Excel end of Programme review
Dublin
3rd or 17th July
Workshop 5
Managing a Tender Process
Dublin
2nd July
UK Retail Excel
Programme
HOW TO BOOK
Fax: completed form to: 00 44 20 7278 7193
Email: michelle.butler@bordbia.ie
Post: completed form & payment to:
Bord Bia, Clanwilliam Court, Lower Mount Street, Dublin 2
Reference: UK Retail Excel Programme
UK Retail Excel Programme Booking Form
Contact Name
____________________________________
Company Name
____________________________________
Address
____________________________________
____________________________________
Email
____________________________________
Cost
€2,625 + €564.38 (VAT) = €3189.38
Reference
UK Retail Excel Programme
Signature
____________________________________
UK Foodservice Market
Irish market vs. UK
Foodservice market
UK
•
•
•
•
•
•
•
60 million
Group Purchasing
Controlled Menus
6-7oz Portion size
Higher taste profiles
Formal Sales process
Sterling
IRISH
•
•
•
•
•
•
•
6 million
More ‘Independence’
More flexibility
More generous portions
Milder taste profiles
Informal Sales process
Euro
Foodservice vs. Retail
RETAIL
•
•
•
•
•
•
•
•
•
Impersonal
Consumer buy Brands
Large Turnover
Fewer Buying Points
Simple Supply Chain
Mass market
Big deals
Short-term results
Long production runs
FOODSERVICE
•
•
•
•
•
•
•
•
•
Personable, hospitable
Caterers buy ‘service’
Smaller turnover
Many buying points
‘Wholesale’ supply
More bespoke market
One step at a time
Long-term investment
Short production runs
Foodservice
includes:
Fast Facts on
UK Foodservice
Restaurants
Quick Service
Pubs & Bars
Hotels
Leisure
Staff Catering
Health Care
Education
Public Sector
TOTAL
No. of
Outlets
Million
Meals
40,513
55,195
70,494
17,394
20,287
20,874
23,207
34,374
2,671
285,009
680
1,873
1,062
480
598
1,080
1,042
1,196
228
8,239
Food
Purchases
£ mill
1,328
1,954
1,105
613
570
927
596
610
150
7,853
Food
Sales
£ mill
4,557
6,030
3,186
2,976
2,072
927
596
610
150
21,105
• 280,000 + outlets
• No player with more than 5%
• 90% of businesses t/o less
than £250k
• Groups = 45% of meals
• 67% via Wholesalers
• 8% via Cash & Carry
• Direct & Vending 25%
Out of Home – Profit
Sector
Accomodation
Drinks Places
Restaurants
Managed Catering
Quick Service
Travel
Visitor Attractions
Venues
Sports & Recreation
Hotels
Pubs
Restaurants
Contract caterers
Cafes
On Board Services
Art Galleries
Conference
Skating and Ski
Guest Houses
Bars/Wine Bars
Gastro Pubs
Facilities Mngt
Coffee Shops
Ferries/Cruise
Zoos & Aquariums
Exhibition Hall
Karting & Motor Sports
Holiday Camps
Nightclubs
Ethnic/Oriental
Workplace
Takeaways
Forecourts
Theme Parks
Stadia
Swimming Pools
Hostels
Private Members
Pizza & Pasta
Event & Function
Fish & Chips
Roadside Eatlng
Parks and Gardens
Training Centres
Waterparks
Caravan Parks
Party Venues
Mobile Caterers
Sandwich Bars
Airports/Airlines
Museums
Shopping Centre
Bowling Centres
Camp Sites
Social Clubs
Central Production
Kiosks
Other travel
Attractions
Health Clubs
Contract Cleaning
Other QSR
Amusement Parks
Golf Courses
Children's Activity
Sports Clubs
Theatres
Football Clubs
Other catering
Cinemas
5*, 4*, 3*
Freehouse
By Menu type
With restaurant
Managed
Fine Dining
With conference
Tenanted
Instore
No of employees on site
Casino
Other attractions
Garden Centres
With retail outlet
Footfall/No of vistitors
•
•
2,500+ Groups account for 45% of the market.
240,000 sites + Independents make up the balance.
Out of Home - Cost
Sector
•
Traditionally defined as ‘sectors simply recovering the cost of food
& drink provision’.
Understanding the
Supply Chain
•
WILL be a Critical Success Factor
•
WILL govern your speed of Market
Penetration.
•
WILL cost you:
– Time
– Money
– Patience!!
•
IS HUGELY DIFFERENT TO RETAIL.
Supply Chain
Decisions
•
KEY DECISIONS ON:
– WHICH BUSINESSES to approach?
– WHAT to offer?
•
CUSTOMER-LED Decisions:
– WILL I buy from this new ‘entrant’?
– WILL I do ‘better’ than current arrangements?
•
Business to Business relationship:
– Caterer or Wholesaler makes decision ‘on behalf of his Customers’.
– Consumer does have an increasing impact.
UK Foodservice –
Structure
Manufacturers
Contract
Distributors
Catering Groups
Delivered
Wholesalers
Cash & Carry
Wholesalers
Independent Caterers
Wholesale Targets: Cash
& Carry
•
Few Groups to target
•
Simple to service:
– Head Office Listings.
– Pallets to CD or Branch
•
Simple Pricing Structures
•
All developing DELIVERED capability
•
Costs of Doing Business:
– Listing Fee – Promotion Support.
– ORD
Wholesale Targets:
Multi-Temp Delivery
•
Core Ambient service
– ‘Larder’ provisions
•
All adding Frozen & Chilled
– Gives ‘One-Stop Shop’ capability
•
National service dominated by 3663 &
Brakes
•
Country Range group now No. 3
•
100+ Regionals available.
Wholesale Targets:
Frozen & Chilled
•
Frozen sales in Decline:
– Chips – Peas – Prawns
•
Chilled in strong Growth
•
Traditional Frozen Wholesalers moving into
Chilled & Ambient
•
Slow to react to the initiatives by 3663 & Brakes
Bord Bia Britain
Foodservice Programme Offer 2009
Foodservice Market
Intelligence Programme
•
Aim: To provide Irish companies with up-to-date and relevant market information on the UK foodservice market
•
Suitable for: Companies interested in the UK foodservice market either because they are currently doing business in
the UK or are contemplating market entry in the future.
Content:
Ø
Weekly UK Foodservice Newsletter: reviewing all foodservice news, consumer trend and industry events that allows you to keep up-to-date with
what is happening in the market. Information gathered from trade titles such as Caterer& Hotelkeeper, Publican, ProWholesaler, Sandwich &
Snack News
Ø
Operators Directory: annually updated profiles of 150 major profit and cost sector operators including QSR, FSR, travel, & leisure, pub
restaurants and contract caterers.
Ø
Distributors Directory: annually updated profiles of over 110 distributors and cash & carries. Profiles include info on company size,
geographical spread and buyer contact details as well as buying policy. Also includes details of logistic companies, catering butchers and
regional wholesalers.
Ø
Meet the Buyer Morning: in-depth presentation from a leading operator detailing progress on their business, trends they are experiencing,
threats facing the business and opportunities for suppliers
Ø
Menurama: is a comprehensive menu database covering latest food offer from all major national chains. New for 2009 is the Menurama report
published twice yearly detailing highlights of the database and pricing of menu items.
Ø
Daily Media Report: summarising all food and drink related articles in the following publications: The Times, The Independent, The Financial
Times, The Guardian, The Daily Telegraph, The Daily Mail and The Daily Express.
Ø
Trading Statements: interim and annual trading statements from key foodservice UK operators outlining the state of their business, success
over period and strategy for future.
Cost: €800 exclusive of VAT @ 21.5%
UK Foodservice Market
Intelligence Programme
How to book
Fax: completed form to: 00 44 20 7278 7193
Email: aoife.wycherley@bordbia.ie
Post: completed form & payment to:
Bord Bia, Clanwilliam Court, Lower Mount Street, Dublin 2
Reference: UK Foodservice Market Intelligence Programme
UK Foodservice Market Intelligence Programme Booking Form
Contact Name
____________________________________
Company Name
____________________________________
Address
____________________________________
____________________________________
Email
____________________________________
Cost
€800 + €172 (VAT) = €972
Reference
UK Foodservice Market Intelligence Programme
Signature
____________________________________
Foodservice Market Entry
Programme
Ø
Ø
Aim: To support Irish companies in the planning and execution of their UK market entry strategy
Suitable for: Irish suppliers who are currently supplying foodservice in the domestic market, have no presence
in the UK but have an objective of entering the UK Foodservice market in the near future
Ø
Content:
Ø
Ø
Ø
Ø
Ø
Ø
Output:
Ø
Ø
Ø
Finalised Market Entry Strategy
Identification of three suitable UK Foodservice targets for your company and products
Facilitators:
Ø
Ø
Ø
Full subscription to Foodservice Market Intelligence Programme
2 full day workshops
1 x 2 hour one to one with market expert
1 Meet the Buyer Event
1 UK Market Study Visit
Terry Cook – Purchasing Consultant for Charlton House
Simon Peat – Former Managing Director Dewberry Redpoint
Costs
Ø
€1,850 exclusive of VAT @ 21.5%
UK Foodservice Market
Entry Programme
How to book
Fax: completed form to: 00 44 20 7278 7193
Email: aoife.wycherley@bordbia.ie
Post: completed form & payment to:
Bord Bia, Clanwilliam Court, Lower Mount Street, Dublin 2
Reference: UK Foodservice Market Entry Programme
UK Foodservice Market Entry Programme Booking Form
Contact Name
____________________________________
Company Name
____________________________________
Address
____________________________________
____________________________________
Email
____________________________________
Cost
€1,850 + €397.75 (VAT) = €2,247.75
Reference
UK Foodservice Market Entry Programme
Signature
____________________________________
Foodservice Market
Development Programme
Ø
Aim: To forge strong relationships with key foodservice contacts on behalf of programme members with
ultimate aim of driving sales through new listings and distribution gains
Ø
Suitable for: Irish suppliers who have at least one active account in the UK foodservice market and are
looking to build and add value to their business
Ø
Content:
Ø
Full subscription to Foodservice Market Intelligence Programme
Ø
30 Buyer Presentations – Company introduced and report circulated after meeting
Ø
Meet the Buyer Morning
Ø
Meet the Development Chef Event
Ø
PR Development
Ø
1 UK Market Study Visit
Ø
1 x 2 hour one to one with market expert
Ø
Output:
Ø
Introductions to at least 2 foodservice contacts to generate listings and/or drive incremental sales
Ø
Facilitators:
Ø
Terry Cook – Purchasing Consultant for Charlton House
Ø
Simon Peat – Former Managing Director Dewberry Redpoint
Ø
Costs
Ø
€3,750 exclusive of VAT @ 21.5%
UK Foodservice Market
Development Programme
How to book
Fax: completed form to: 00 44 20 7278 7193
Email: aoife.wycherley@bordbia.ie
Post: completed form & payment to:
Bord Bia, Clanwilliam Court, Lower Mount Street, Dublin 2
Reference: UK Foodservice Market Development Programme
UK Foodservice Market Development Programme Booking Form
Contact Name
____________________________________
Company Name
____________________________________
Address
____________________________________
____________________________________
Email
____________________________________
Cost
€3,750 + €806.25 (VAT) = €4,556.25
Reference
UK Foodservice Market Development Programme
Signature
____________________________________
Reasons to target the UK
• Scale – 61m people and 25m households in the UK
• Geographic proximity to Ireland
• Similar taste profiles
Barriers to Entry the UK
• Currency – strength of the Euro
• Route to market – distribution costs
• Margin pressures – commodity/food price inflation
• Economic uncertainty – consumers spending less
• Highly competitive market – focus on value
For further information
•
Contacts
– Beatrice Blake, Office Manager
• beatrice.blake@bordbia.ie
– Michelle Butler, Retail Trade Marketing Specialist
• Michelle.butler@bordbia.ie
– Aoife Wycherley, Foodservice Trade Marketing Specialist
• Aoife.wycherley@bordbia.ie
– London Office Telephone No +44 20 7833 1251