Fish & seafood inflation in Hong Kong stood at 17.870% 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 91 fish & seafood SKUs from companies such as Jett Foods, B & F and Red Marubean Brand 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 ParkNShop offered lowest prices of the total SKUs within the fish & seafood category from October through December 2023, followed by Jett Foods and Cabinet Organic. According to the analysis, the price range of $5 and below was the most competitive, with 64 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, ParkNShop had greatest share of lowest prices for individual SKUs in fish & seafood in Hong Kong in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for fish & seafood category by the retailers tracked by GlobalData. Among variants, the tracker revealed tomato sauce; sardine and sunflower oil; tuna as the most popular (by number of SKUs) fish & seafood variants. These were priced 66% lower than the average price of a fish & seafood SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were ParkNShop, Jett Foods, Cabinet Organic, and . According to the analysis, ParkNShop had the lowest average unit price, while the retailer with the widest product assortment was ParkNShop.
The report brings attention to the intricate pricing dynamics within the fish & seafood market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, ParkNShop, Jett Foods and Cabinet Organic stood out as prominent e-retailers, providing competitive pricing for a substantial number of fish & seafood SKUs. However, to comprehensively grasp fish & seafood market in Hong Kong, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Hong Kong fish & seafood 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.
