For immediate release
A nation of Great British Bakers would save £735 million per year
24 August 2017- Research from finder.com reveals how much dough Brits could save by baking over buying.
Just one week until the new Great British Bake-Off series begins on Channel 4, comparison site finder.com has investigated how much Brits would save if we were a nation of Great British Bakers. Comparing the average cost of cakes bought in the supermarket versus the cost of ingredients to bake them at home, finder has discovered that Brits would save over £735 million per year if they home baked their cakes.
According to finder’s research, occasion cakes (such as wedding cakes) are found to have the most mark-up, costing around 500 percent more per gram to buy than to bake. Occasion cakes alone cost Brits over £133 million more to buy every year than if they were home baked.
The cake economy in the UK is worth over £1.36 billion in total, therefore according to the mark-up value of each category of cake, Brits would save over £735 million each year by baking. Small cakes are the most popular category in the UK, with a retail value of £662 million in 2016, therefore although they have mark-up of around 225%, Brits could save a whopping £370 million each year by home baking small cakes.
Jon Ostler, CEO of finder UK says: “The Great British Bake-Off has inspired so many Brits to try their hand at baking and we hope that by highlighting the money that could be saved from baking over buying, more Brits will feel encouraged to get stuck in. It’s amazing how these little money saving tips can really add up to stretch that pound even further!”
Great British Baker Savers
|Type of cake||2016 retail value||Average cost/gram to buy||Average cost/gram to bake cake (GBP)||Mark-up (%)||£s saved by home baking in UK|
Source: finder.com/uk, Mintel
For more information about the GBBO research please visit: https://www.finder.com/uk/save-money-baking-cakes
The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com's review pages for the current correct values.
finder.com is a personal finance website, which helps consumers compare products online so they can make better informed decisions. Consumers can visit the website to compare utilities, mortgages, credit cards, insurance products, shopping voucher codes, and so much more before choosing the option that best suits their needs.
Best of all, finder.com is completely free to use. We’re not a bank or insurer, nor are we owned by one, and we are not a product issuer or a credit provider. We’re not affiliated with any one institution or outlet, so it’s genuine advice from a team of experts who care about helping you find better.
finder.com launched in the UK in February 2017 and is privately owned and self-funded by two Australian entrepreneurs – Fred Schebesta and Frank Restuccia – who successfully grew finder.com.au to be Australia's most visited personal finance website (Source: Experian Hitwise).