Iced/rtd tea drinks inflation in Australia stood at -12.140% 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 27 iced/rtd tea drinks SKUs from companies such as KOMMUNITY BREW, Remedy and Bos 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 Harris Farm offered lowest prices of the total SKUs within the iced/rtd tea drinks category from October through December 2023, followed by Coles and . According to the analysis, the price range of $5 and below was the most competitive, with 22 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, Harris Farm had greatest share of lowest prices for individual SKUs in iced/rtd tea drinks in Australia in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for iced/rtd tea drinks category by the retailers tracked by GlobalData. Among variants, the tracker revealed organic; cherry plum; kombucha and organic; lemonade & raspberry; kombucha as the most popular (by number of SKUs) iced/rtd tea drinks variants. These were priced 5.54% lower than the average price of a iced/rtd tea drinks SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Harris Farm, Coles, , and . According to the analysis, Harris Farm had the lowest average unit price, while the retailer with the widest product assortment was Harris Farm.
The report brings attention to the intricate pricing dynamics within the iced/rtd tea drinks market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Harris Farm, Coles and stood out as prominent e-retailers, providing competitive pricing for a substantial number of iced/rtd tea drinks SKUs. However, to comprehensively grasp iced/rtd tea drinks market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia iced/rtd tea drinks market, buy the report here.