Dried & instant noodles inflation in Australia stood at 2.360% 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 35 dried & instant noodles SKUs from companies such as Apollo, Chang’s and Kura 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 International Groceries offered lowest prices of the total SKUs within the dried & instant noodles category from October through December 2023, followed by Harris Farm and Coles. According to the analysis, the price range of $5 and below was the most competitive, with 32 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, International Groceries had greatest share of lowest prices for individual SKUs in dried & instant noodles in Australia in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for dried & instant noodles category by the retailers tracked by GlobalData. Among variants, the tracker revealed hokkien and mi kari laksa as the most popular (by number of SKUs) dried & instant noodles variants. These were priced 66.99% higher than the average price of a dried & instant noodles SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were International Groceries, Harris Farm, Coles, Goodness and . According to the analysis, Coles had the lowest average unit price, while the retailer with the widest product assortment was International Groceries.
The report brings attention to the intricate pricing dynamics within the dried & instant noodles market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, International Groceries, Harris Farm and Coles stood out as prominent e-retailers, providing competitive pricing for a substantial number of dried & instant noodles SKUs. However, to comprehensively grasp dried & instant noodles market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia dried & instant noodles market, buy the report here.