Iced/rtd tea drinks inflation in China stood at 247.180% 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 89 iced/rtd tea drinks SKUs from companies such as Kirin, Suntory and Xiangpiaopiao 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 RT-MART offered lowest prices of the total SKUs within the iced/rtd tea drinks category from January through March 2024, followed by My dmart and Epermarket. According to the analysis, the price range of $5 and below was the most competitive, with 78 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, RT-MART had greatest share of lowest prices for individual SKUs in iced/rtd tea drinks in China in Q1 2024.
Analysis of the quarterly price data showed that RT-MART offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed green tea and black tea; lemon as the most popular (by number of SKUs) iced/rtd tea drinks variants. These were priced 42.79% 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 RT-MART, My dmart, Epermarket, Gome and GZ Grocery. According to the analysis, My dmart had the lowest average unit price, while the retailer with the widest product assortment was RT-MART.
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, RT-MART, My dmart and Epermarket 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 China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China 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.
