In Europe, the bakery industry is vital to the market with bread, patisserie shops, and cafes playing a vital role in many nations. The European bakery market generates € 210 billion in revenue annually. It's well established offering a variety of product offerings with reputable distribution channels, regulations, innovation platforms, and consumer preferences. With a forecasted growth of 3.3 % (until 2023) the bakery industry will remain one of the most vital markets in the world for the coming years.
In Europe cash represents 79% of all POS transactions in volume (and 54% in value). Cash transactions play a key role in European bakeries, but they can slow down service if not managed efficiently. Convenience is an important factor for Europeans when it comes to selecting food and younger generations are looking for fresh, organic, and artisanal options they can purchase on the go. With high customer service expectations, it’s important for bakeries to handle transactions accurately and efficiently or risk losing out to the competition.
The European bakery industry is driven by frequent innovations in technology and evolving consumer preferences. In an industry where 50% of all transactions are conducted in cash, bakeries should consider investing in cash management solutions that are engineered to provide additional ingress protection in environments where excessive debris such as crumbs, sugar, and potentially liquid spills are present. These solutions can facilitate a large volume of cash transactions, performing consistently in high turnover environments while improving the checkout experience in a fast-paced environment.