Hot tea inflation in India stood at -2.320% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q1 2024, GlobalData monitored the pricing of 252 hot tea SKUs from companies such as Teamonk Global, Tata Tea and Tetley 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 hot tea category from January through March 2024, followed by Natures Basket and Lulu-India. According to the analysis, the price range of $5 and below was the most competitive, with 199 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 hot tea in India in Q1 2024.
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 green and premium; dust as the most popular (by number of SKUs) hot tea variants. These were priced 67.27% 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 Big Basket, Natures Basket, Lulu-India, Apollo Pharmacy and Jiomart. According to the analysis, Apollo Pharmacy 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 hot tea 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 hot tea SKUs. However, to comprehensively grasp hot tea market in India, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the India hot tea 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.
