Herbs, spices & seasonings inflation in India stood at 0.460% 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 729 herbs, spices & seasonings SKUs from companies such as Big Basket, Everest and Keya 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 Big Basket offered lowest prices of the total SKUs within the herbs, spices & seasonings category from October through December 2023, followed by Natures Basket and Lulu-India. According to the analysis, the price range of $5 and below was the most competitive, with 702 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 herbs, spices & seasonings in India in Q4 2023.
Analysis of the quarterly price data showed that Jiomart offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed turmeric; powder and coriander; powder as the most popular (by number of SKUs) herbs, spices & seasonings variants. These were priced 30.4% lower than the average price of a herbs, spices & seasonings SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Big Basket, Natures Basket, Lulu-India, Jiomart 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 herbs, spices & seasonings market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Big Basket, Natures Basket and Lulu-India stood out as prominent e-retailers, providing competitive pricing for a substantial number of herbs, spices & seasonings SKUs. However, to comprehensively grasp herbs, spices & seasonings market in India, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the India herbs, spices & seasonings 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.
