Hot tea inflation in Hong Kong stood at 5.180% 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 149 hot tea SKUs from companies such as Twinings, Lipton and Traditional Medicinals 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 hot tea category from October through December 2023, followed by Biovea and Huorganic. According to the analysis, the price range of $5 and below was the most competitive, with 61 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 hot tea in Hong Kong in Q4 2023.

Analysis of the quarterly price data showed that Biovea offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed jasmine and earl grey as the most popular (by number of SKUs) hot tea variants. These were priced 39.15% lower than the average price of a hot tea SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were ParkNShop, Biovea, Huorganic, 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 hot tea market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, ParkNShop, Biovea and Huorganic stood out as prominent e-retailers, providing competitive pricing for a substantial number of hot tea SKUs. However, to comprehensively grasp hot tea 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 hot tea market, buy the report here.

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