The following table provides an analysis of the proposed retail stores' key competitors in Vancouver:
Competitors to Bakery & Party Store
Bakery
Strengths
Weaknesses
Anna's Cake House
Richmond, Burnaby
Regularly wins awards and honors for their cakes and pastries; could easily move into offering party supplies as the demographic groups they sell into are likely to throw their own parities vs. cater one
Lack of retail space for starting a party store; lack of knowledge of that aspect of retailing will limit the stores' ability to move successfully into this market.
Cause for Celebration
The most serious competitor to the proposed store concept; this retail outlet specializes in wedding and special occasion cakes.
Lack of experience in retailing party supplies; sells to a higher-end demographic that may consider catering as well;
Lesley Stowe Fine Foods
Well known as one of the best caterers in Vancouver; expertise in event planning and special occasions; is a special events business first and bakery second.
Potentially difficult for the company to move down-market after getting accustomed to the higher margins possible on event catering.
Lighthouse Cake Company
Specializes in cakes for special occasions and is family owned and operated.
Despite this stores' excellent reputation for cakes, it may find the move into party supplies difficult as their core business is more about bakery than merchandising and product sales.
Sandy's Home-Style Baking Company
Specializes in desserts and catered meals; looking to move into the home dinner segment with cook-to-order meals for take-out.
Well known for their pastries, this potential competitor would consider moving more into catering than supplies.
The Valley Bakery
Began 43 years ago and is highly respected for its use of natural ingredients; health conscious also with a pastries line of products as well;
Not nearly as well-known in the event catering arena; despite the high level of awareness of this specific competitor the inclusion of party supplies does not fit with their market segments
WOW! Factor Desserts
Well capitalized and has a run rate of $75M / year in revenues; brand recognition throughout the British Columbia area; focus on production of events...
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