Cookware - UK - April 2008

Abstract

Cookware is a durable and responsive market that enjoys plenty of innovation. Mid- and top-end suppliers have been creative in an intensely competitive market, which has experienced a huge influx of low-price products into supermarkets and value retailers. Distribution has broadened as many retailers with other specialisms have added cookware. So consumers are getting a great deal, with more choice, downward pressure on prices and plenty of enticing new products to whet their appetites.

Cooking has never been so glamorous - celebrity chefs are all over the media nowadays, inspiring more people to have a go and create their own cooking. The government and media are also constantly reminding us that we should be eating a healthier diet by reducing our intake of fat and salt, so often the hallmark of convenience foods. This also encourages consumers to cook more from scratch. So there are plenty of forces at work to inspire consumers to go out and buy cookware.

However, prices are beginning to rise because of real increases in the cost of labour, raw materials and fuel. Many consumers claim that they are just too busy to be bothered to cook. And the credit squeeze and spectre of a downturn in the housing market is denting consumer confidence. So this report examines the complex forces at play in the market for cookware.

Key themes of the report:

• Health is high on the agenda, so how is this affecting demand for cookware and have suppliers really embraced the healthy living theme?
• Branding is still important in cookware and suppliers have invested to build trust and image. What is the outlook for the big brands in the light of strong competition from own-label?
• The pace of change is more demanding than ever. Will style changes continue to accelerate and what new product developments are in the pipeline?
• Lifestyles are becoming more sophisticated, with foreign travel and restaurant eating raising expectations. So how are goods that complement lifestyle trends or enhance entertaining likely to succeed?
• More glamorous wedding gifts like high-tech gadgets and lifetime experiences are taking the place of household goods like pans these days. How can the industry reassure gift buyers that cookware is a great gift for newlyweds?
• Celebrities are making cooking and baking appear more glamorous, yet more accessible. So how much difference does a celebrity endorsement make to a brand and who takes notice?
• The importance of time saving to busy consumers and how cookware that promises time saving during preparation, cooking or cleaning has an advantage.
• Modern houses and dwellings are smaller and space in the kitchen is at a premium, so items that make the most of space could be an advantage for the industry.

This report contains US IRI InfoScan data.