Condiment sauces inflation in South Africa stood at 3.320% 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 176 condiment sauces SKUs from companies such as Woolworths Food, Nando’s and Steers that were sold by e-retailers. Buy the report here.
Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that Woolworths-South Africa offered lowest prices of the total SKUs within the condiment sauces category from October through December 2023, followed by Makro and Pick n Pay. According to the analysis, the price range of $5 and below was the most competitive, with 158 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, Woolworths-South Africa had greatest share of lowest prices for individual SKUs in condiment sauces in South Africa in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for condiment sauces category by the retailers tracked by GlobalData. Among variants, the tracker revealed tomato and sweet chilli as the most popular (by number of SKUs) condiment sauces variants. These were priced 34.04% lower than the average price of a condiment sauces SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Woolworths-South Africa, Makro, Pick n Pay, and . According to the analysis, Pick n Pay had the lowest average unit price, while the retailer with the widest product assortment was Woolworths-South Africa.
The report brings attention to the intricate pricing dynamics within the condiment sauces market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Woolworths-South Africa, Makro and Pick n Pay stood out as prominent e-retailers, providing competitive pricing for a substantial number of condiment sauces SKUs. However, to comprehensively grasp condiment sauces market in South Africa, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the South Africa condiment sauces market, buy the report here.