Cream inflation in Canada stood at 0.650% 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 189 cream SKUs from companies such as Quebon, Lactantia and Gay Lea 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 Voila offered lowest prices of the total SKUs within the cream category from October through December 2023, followed by MetroCanada and Valu Mart. According to the analysis, the price range of $5 and below was the most competitive, with 176 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, Voila had greatest share of lowest prices for individual SKUs in cream in Canada in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for cream category by the retailers tracked by GlobalData. Among variants, the tracker revealed 14% fat; sour and sour as the most popular (by number of SKUs) cream variants. These were priced 2.82% lower than the average price of a cream SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Voila, MetroCanada, Valu Mart, Real Candian Superstore and Atlantic SuperMarket. According to the analysis, MetroCanada had the lowest average unit price, while the retailer with the widest product assortment was Voila.
The report brings attention to the intricate pricing dynamics within the cream market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Voila, MetroCanada and Valu Mart stood out as prominent e-retailers, providing competitive pricing for a substantial number of cream SKUs. However, to comprehensively grasp cream market in Canada, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Canada cream market, buy the report here.