Prepared meals inflation in Australia stood at 4.890% 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 174 prepared meals SKUs from companies such as Coles Kitchen, Mccain and Youfoodz 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 Coles offered lowest prices of the total SKUs within the prepared meals category from October through December 2023, followed by Harris Farm and International Groceries. According to the analysis, the price range of $5 and $10 was the most competitive, with 108 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, Coles had greatest share of lowest prices for individual SKUs in prepared meals in Australia in Q4 2023.

Analysis of the quarterly price data showed that no discounts were offered for prepared meals category by the retailers tracked by GlobalData. Among variants, the tracker revealed supreme and butter chicken as the most popular (by number of SKUs) prepared meals variants. These were priced 12.86% higher than the average price of a prepared meals SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Coles, Harris Farm, International Groceries, and . According to the analysis, International Groceries had the lowest average unit price, while the retailer with the widest product assortment was Coles.

The report brings attention to the intricate pricing dynamics within the prepared meals market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Coles, Harris Farm and International Groceries stood out as prominent e-retailers, providing competitive pricing for a substantial number of prepared meals SKUs. However, to comprehensively grasp prepared meals market in Australia, continuous tracking of SKU pricing over time is necessary.

For a more detailed analysis of pricing trends in the Australia prepared meals market, buy the report here.

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