Juices inflation in Australia stood at 0.550% 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 88 juices SKUs from companies such as Nippy’s, THE JUICE FARM and The Homegrown Juice Company 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 juices category from October through December 2023, followed by International Groceries and Coles. According to the analysis, the price range of $5 and below was the most competitive, with 75 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 juices in Australia in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for juices category by the retailers tracked by GlobalData. Among variants, the tracker revealed apple & blackcurrant and coconut water as the most popular (by number of SKUs) juices variants. These were priced 21.62% higher than the average price of a juices SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Harris Farm, International Groceries, Coles, Dan Murphys and Goodness. According to the analysis, Dan Murphys 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 juices market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Harris Farm, International Groceries and Coles stood out as prominent e-retailers, providing competitive pricing for a substantial number of juices SKUs. However, to comprehensively grasp juices market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia juices market, buy the report here.