Bread & Butter

What Bread & Butter does

Bread & Butter (B+B) is a Sydney-based, privately-held multidisciplinary research and strategic consulting firm founded in 1997 by current CEO Margo Cashman. The firm operates a nine-practice-area model — shopper research, NPD & innovation, customer experience (CX), usage and attitude studies (U&As), pack research, segmentation, activating existing knowledge, positioning and communications, and syndicated studies — anchored by a proprietary 'Customer Intimacy' methodology built on a Frame-Understand-Act approach that aims to shift client organisations from thinking about customers to thinking like them. The technical stack combines qualitative and quantitative methods, including ethnographic and video research, co-creation workshops, a hybrid QualieQuant approach, and a purpose-built online qualitative research platform developed and maintained with USA-based partner Aha, with multi-language support and nascent AI integration in larger studies.

The firm generates revenue through project-based consulting engagements with enterprise clients, predominantly in food & beverage, retail, building materials, financial services, healthcare, and appliances. Commercial operations run on direct client engagement via the company's website, phone (0461 503 210), and email ([email protected]), supported by an 11–50 employee headquarters team based in Lavender Bay, NSW. Geographic reach beyond Australia is delivered through an international network of partner researchers in North America, China, South East Asia, and the UK. The client roster includes Kellogg's, Mars, Coca-Cola, McDonald's Australia, Arnott's, Inghams, Sunrice, Primo, Mutti, Ocean Spray, T&G Global, James Hardie, Electrolux, Woolworths, Sanofi, Perfetti Van Melle, and Police Bank, with multiple client relationships exceeding 20 years (G8 Education since 1997, The Reject Shop since 1997, T&G Global since 2002, Inghams since 2004). Revenue is concentrated in professional services fees tied to enterprise research engagements; pricing is not publicly disclosed and the firm operates with no external funding, no subsidiaries, no disclosed M&A, and no public-market activity.

Name

Bread & Butter

Legal name

Bread & Butter Research & Planning Pty Ltd

Website

https://bbutter.com.au

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Bread & Butter is a Sydney-based, founder-led market research and strategic consulting firm (founded 1997) that helps enterprise clients in food & beverage, retail, and consumer goods apply a proprietary 'Customer Intimacy' methodology across qualitative, quantitative, ethnographic, and syndicated research engagements.

Ownership category

akta.pro rank

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Research and Consulting Services: B+B provides professional research and consulting services to enterprise clients across multiple industries. Services include shopper research, NPD & innovation, CX, U&As, pack research, segmentation studies, positioning & communications, and syndicated studies. Revenue is generated through project-based consulting engagements with long-standing client relationships spanning 25+ years.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Bread & Butter (B+B) is a multidisciplinary research-based consultancy that delivers consumer and shopper insights through its proprietary Customer Intimacy methodology. The firm sells project-based consulting engagements across nine practice areas: Shopper Research, NPD & Innovation, CX, U&As, Pack Research, Segmentation Studies, Activating Existing Knowledge, Positioning & Comms, and Syndicated Studies. Work is delivered using qualitative, quantitative, ethnographic, co-creation, and marketing sciences approaches for enterprise clients.

Product overview

Bread & Butter (B+B) is a multidisciplinary research-based consultancy offering a unified Customer Intimacy methodology delivered through multiple specialized service offerings. The core offering centers on a Frame-Understand-Act approach to customer understanding, supported by nine practice areas: Shopper Research, NPD & Innovation, CX, U&As, Pack Research, Segmentation Studies, Activating Existing Knowledge, Positioning & Comms, and Syndicated Studies. Research capabilities are powered by proprietary tools including an online qualitative research platform (developed with 'Aha' partners), QualieQuant methodology, in-the-moment ethnographic research, co-creation workshops, and marketing sciences. The company operates across international markets through partnership networks in North America, China, South East Asia, and the UK.

Differentiator

Problem solved

Functional benefit

Products and services

• Shopper Research Why-driven shopper research that explores the deeper motivations behind shopper behavior beyond category-level perspectives, uncovering competitive advantages for enterprise brand and retail clients.
• NPD & Innovation New product development consulting covering blue sky, evolutionary, and incremental innovation types, using ethnography and co-creation approaches for enterprise FMCG and consumer goods clients.
• CX (Customer Experience) Customer experience research that extends beyond journey mapping to create distinctive and ownable experiences, including CX strategy, journey maps, and touchpoint strategies.
• U&As (Usage & Attitudes) Opportunity-driven usage and attitudes studies designed to deliver commercial outcomes through the What Now? What Next? process for enterprise clients.
• Pack Research Performance-based pack research evaluating packaging effectiveness at the shelf during actual purchase decisions rather than isolated research environments.
• Segmentation Studies Actionable consumer and demand space segmentation adding so what? and what to do? insights to inform the wider marketing mix including NPD, pricing, packaging, and promotions.
• Activating Existing Knowledge Service that reviews and reframes an organization's existing data and knowledge to answer current agendas, enabling budget to be spent on discovering new insights.
• Positioning & Comms Strategic positioning and communications development that captures what matters to customers in both message and tone, including communication platform optimization.
• Syndicated Studies Cost-effective contextual studies on culture, lifestyle, and key customer moments, conducted collaboratively with multiple clients to share costs.

Quantifiable outcome

• Over 30% uplift in brand preference within 12 months of launch for building materials manufacturer global relaunch
• +2 more outcomes

Named customers22 records

Segments10 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature3 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Aha (USA)coreTechnology or IntegrationUSA-based partner for purpose-built international online research platform. Partnership has operated for over 10 years. Platform supports multiple languages and is now deploying AI in larger studies. Pioneer in global online research enabling concurrent multi-country cross-category qualitative research studies.
• International Research NetworkcoreStrategic or Co-development PartnerInternational network of like-minded researchers conducting qualitative and quantitative studies in North America, China, South East Asia, and UK. B+B works with local teams to ensure relevant cultural differences and similarities are understood and acted upon. Enables global research capability for clients requiring multi-country studies.
• Design Agency AffiliatessupportingStrategic or Co-development PartnerAffiliations with design agencies provide integrated approach to packaging and NPD (New Product Development) development. Complements B+B's research capabilities with design execution for packaging and product development projects.
• McNair YellowsquaressupportingOthersThird-party fieldwork supplier used by B+B for data collection in research projects. B+B uses third-party fieldwork suppliers to collect data that is then analysed to provide insights to clients.
• Pure SpectrumsupportingOthersThird-party fieldwork supplier used by B+B for data collection in research projects. Part of B+B's network of fieldwork partners for collecting research data.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• GfK: Global market research firm with strong consumer behaviour, shopper, and innovation practices, particularly in consumer goods. Overlaps with B+B on shopper, NPD, and pack research, but serves as a broad incumbent with deeper quant panels.
• Ipsos: Top-tier global market research firm with strong qualitative, innovation, and brand offerings. A competing option for the same CPG/retail client budgets that B+B targets, but with much broader geographic coverage and a syndicated product portfolio.
• Kantar: Global market research and insights powerhouse offering qualitative, quantitative, panels, and AI-driven analytics. Overlaps with B+B on shopper, NPD, CX, and pack research categories but operates at vastly greater scale and as a broad incumbent rather than a boutique.
• Nielsen: Global leader in consumer measurement, retail, and CPG insights. Competes with B+B on shopper, innovation, and pack research, but at much larger scale and with proprietary measurement data that boutiques cannot replicate.

Emerging players

• Pureprofile: Australian-listed consumer data and insights platform offering research via owned first-party panels and technology-led tooling. Comparable to B+B as an ANZ-headquartered insights player, but differentiated by its technology/platform go-to-market versus a pure-play consulting model.

Direct peers

• Hall & Partners: Global brand and customer research consultancy specialising in brand strategy, shopper insights, and cultural understanding for major brands. Comparable to B+B in its emphasis on qualitative-led brand storytelling and a strong FMCG/CPG client base.
• Roy Morgan Research: Australia's largest dedicated market research firm, providing consumer and industry research across media, retail, FMCG, and finance verticals. Most directly comparable to B+B by geography and breadth of FMCG/retail client work, but with an even heavier quant/syndicated orientation.
• Fiftyfive5: Australian-headquartered consumer insights consultancy focused on helping brands 'live their brand promise' through shopper, innovation, and customer experience research. Closely comparable to B+B in size, geography, methodology mix (qual + quant + behavioural), and FMCG/CPG vertical specialisation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bread & Butter