Chocolate inflation in Australia stood at -4.040% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q4 2023, GlobalData monitored the pricing of 191 chocolate SKUs from companies such as Koko Black, Coles and Choceur that were sold by e-retailers. Buy the report here.
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Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that Harris Farm offered lowest prices of the total SKUs within the chocolate category from October through December 2023, followed by Coles and International Groceries. According to the analysis, the price range of $5 and below was the most competitive, with 78 SKUs.
The chart below illustrates price leadership among the covered retailers which offer the highest number of low-priced products in the category. Of all retailers, Harris Farm had greatest share of lowest prices for individual SKUs in chocolate in Australia in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for chocolate category by the retailers tracked by GlobalData. Among variants, the tracker revealed coconut and milk as the most popular (by number of SKUs) chocolate variants. These were priced 84.48% lower than the average price of a chocolate SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Harris Farm, Coles, International Groceries, Goodness and ALDI-Australia. According to the analysis, ALDI-Australia had the lowest average unit price, while the retailer with the widest product assortment was Harris Farm.
The report brings attention to the intricate pricing dynamics within the chocolate market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Harris Farm, Coles and International Groceries stood out as prominent e-retailers, providing competitive pricing for a substantial number of chocolate SKUs. However, to comprehensively grasp chocolate market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia chocolate market, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s online price intelligence platform helps users analyze price leadership and price gaps, as well as visualize product variants at the SKU level, across multiple geographies, retailers, and categories. The platform, a product of Consumer Intelligence Center provides price insights from more than 370 online retailers across 44 countries.
