Bread and butter: Singapore's bakery market shouldn't half-bake its product innovations, say analysts

Lay off on the marketing gimmicks, they added.

The city-state loves its bread, and its bakery market is saturated with small individual players, making product innovation important for each player.

According to a report by RHB Research, innovation is even more important than market gimmicks.

For example, the report added how the firm BreadTalk excels in terms of constant efforts in product innovation.

“Impressive new product launches. In November 2015, for instance, BreadTalk launched an impressive 50 new products at its newly-renovated store in VivoCity, Singapore. These products will be progressively rolled out in other outlets and geographical locations,” the report added.

“It is also in the midst of developing a new digital system, which will alert bakeries when products require replenishing, whilst alerting customers as well. We believe these efforts are more critical in keeping BreadTalk’s brand image fresh, as opposed to spending on advertisement and promotions (A&Ps),” the report noted.