Baked Goods in Croatia - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-10 16:23:03
Bread and milk are traditionally considered as staples in Croatia, and as such are subject to constant interventions by the government. Since January 2013, another social aspect concerning bread has been made weaker â bread and milk are no longer VAT-free, as they were before. However, the new VAT rate is not the full rate of 25%, but only 5%. VAT is one of the last tools left for the government to intervene in bread pricing, and the government will not let go of this tool easily, as bread and milk prices have a major impact on the public perception of government´s efficiency.
Baked goods in Croatia remains a highly fragmented category, and consolidation has only just begun to develop. For this reason, the leading single player, Zagrebacke Pekarne Klara, is expected to account for only a 5% share of retail value sales in 2013. Due to limitations in the distribution of baked goods, Croatia´s large grocery retail chains have teamed up with local baked goods manufacturers, as freshness remains of the utmost importance for Croatian consumers when purchasing bread. The white bread produced in Croatian bakeries tends to have a very short shelf-life, but tastes very good when fresh. Croatian consumers therefore prefer to purchase their bread when it is still warm from the oven, and this is only possible when purchased from a bakery. In Croatian bakery outlets, customers often ask when the bread was delivered, as deliveries are made two or three times a day, and the shelf-life of bread is generally measured in hours.
With the advent of fiscal cash registers, introduced by the Ministry of Finance, even the smallest bakeries are now easier to control in terms of issuing receipts. Previously, it was unofficially considered that small independent bakers thrived due to the fact that not all of their revenue was reported and cash receipts issued. The government can now expect an increase in tax revenues, but bakeries may lose a significant part of their profit margins, which may end up with some of them closing. Current activities, however, are pointing in the completely opposite direction.
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