'The Bake Off Effect' How GBBO Influences Prices and Discounts
The Great British Bake Off launched last Tuesday on Channel 4 drawing in an opening audience of 5.8 million viewers over the course of the show. Research from retail sales aggregator, LovetheSales.com, shows that retailers adjusted prices and discounts days before the show started in anticipation of its influence on consumers buying decisions.
Retailers looked to take advantage of the buzz caused by the show, coined “The Bake Off effect” as more electrical and non-electrical kitchenware is pushed on sale. Across electricals, the highlights are:
The volume of electrical Food Appliances on sale and featured in the show increased by 28% four days before the first episode aired.The average price of these appliances also dropped 32%.
The volume of Food Mixers on sale increased by 43%, with discounts around 34% on average.
The volume of Food Processors on sale increased by 71%, with prices dropping by 34%. This included the Magimix Cuisine Style 5200XL used in last years show.
KitchenAid, a brand made popular by the show, saw a 58% increase in the volume of its products on sale. Especially popular for retailers to discount was the KitchenAid 125 Artisan Stand Mixer, featured heavily in last years show and seen in the first episode.
Hand Mixers on sale increased by 24%.
Non-electrical products saw similar treatment from retailers:
The amount of non-electrical Kitchen Accessories on sale increased by 58% prior to the shows airing.
Chopping Boards on sale increased by 45%, with the average discount at around 28%.
Aprons on sale increased by 21% with a significant increase in the discounts on products, at 45% on average.
After the first episode aired, LovetheSales.com also saw a spike in traffic around pages related to products featured in the show. Views on pages within the Kitchenware and Electrical section of the site increased by 42%. The KitchenAid brand page had a 34% increase in views.
Stuart McClure, Founder of Love the Sales, commented, “The Great British Bake Off has become a very popular show, so much so that it has started to influence the timing and volume of discounts from retailers on the kinds of products featured in the show. Specifically, we saw a big trend in reductions on higher priced, premium kitchenware as retailers looked to take advantage of viewers desire to get the best products from the biggest brands featured in the show.”
LovetheSales.com is the world’s first and largest retail sales aggregator, enabling consumers to find and compare every product on sale, from 100s of retailers, to find the best prices on the brands and products they want. It features over 1,500,000 sale items on the site across all of its regions.
Data
LovetheSales.com collated traffic and search data for this report between 23/08/17 and 31/08/17. The first episode of 2017’s Great British Bake Off aired on 29/08/17.
Contact
Stuart McClure
Founder & CMO, Love the Sales
stuart@lovethesales.com
07515 731 960
