Iced/rtd tea drinks inflation in Canada stood at 1.890% 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 155 iced/rtd tea drinks SKUs from companies such as Nestea, Remedy and Peace Tea 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 Voila offered lowest prices of the total SKUs within the iced/rtd tea drinks category from January through March 2024, followed by Real Candian Superstore and Valu Mart. According to the analysis, the price range of $5 and below was the most competitive, with 121 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, Voila had greatest share of lowest prices for individual SKUs in iced/rtd tea drinks in Canada in Q1 2024.
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 lemon and raspberry as the most popular (by number of SKUs) iced/rtd tea drinks variants. These were priced 17% higher 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 Voila, Real Candian Superstore, Valu Mart, Atlantic SuperMarket and MetroCanada. According to the analysis, Real Candian Superstore had the lowest average unit price, while the retailer with the widest product assortment was Voila.
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, Voila, Real Candian Superstore and Valu Mart 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 Canada, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Canada iced/rtd tea drinks 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.
