Energy bars inflation in India stood at -24.780% 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 123 energy bars SKUs from companies such as Big Basket GoodDiet, Yoga Bar and Ritebite 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 Big Basket offered lowest prices of the total SKUs within the energy bars category from October through December 2023, followed by Apollo Pharmacy and Natures Basket. According to the analysis, the price range of $5 and below was the most competitive, with 110 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, Big Basket had greatest share of lowest prices for individual SKUs in energy bars in India in Q4 2023.
Analysis of the quarterly price data showed that Apollo Pharmacy offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed apple & cinnamon and assorted as the most popular (by number of SKUs) energy bars variants. These were priced 21.64% higher than the average price of a energy bars SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Big Basket, Apollo Pharmacy, Natures Basket, Lulu-India and Spar India. According to the analysis, Spar India had the lowest average unit price, while the retailer with the widest product assortment was Big Basket.
The report brings attention to the intricate pricing dynamics within the energy bars market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Big Basket, Apollo Pharmacy and Natures Basket stood out as prominent e-retailers, providing competitive pricing for a substantial number of energy bars SKUs. However, to comprehensively grasp energy bars market in India, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the India energy bars market, buy the report here.