Juices inflation in Singapore stood at 25.170% 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 524 juices SKUs from companies such as Marigold, Kagome and Pokka 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 FairPrice offered lowest prices of the total SKUs within the juices category from October through December 2023, followed by Shopee Singapore and Cold Storage. According to the analysis, the price range of $5 and below was the most competitive, with 264 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, FairPrice had greatest share of lowest prices for individual SKUs in juices in Singapore 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 coconut water and apple as the most popular (by number of SKUs) juices variants. These were priced 0.61% 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 FairPrice, Shopee Singapore, Cold Storage, Everyday Vegan Grocer and . According to the analysis, Shopee Singapore had the lowest average unit price, while the retailer with the widest product assortment was FairPrice.
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, FairPrice, Shopee Singapore and Cold Storage stood out as prominent e-retailers, providing competitive pricing for a substantial number of juices SKUs. However, to comprehensively grasp juices market in Singapore, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Singapore juices market, buy the report here.