Prepared meals inflation in Canada stood at 1.830% 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 761 prepared meals SKUs from companies such as President’s Choice, Dr. Oetker Ristorante and Healthy Choice 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 Voila offered lowest prices of the total SKUs within the prepared meals category from October through December 2023, followed by Real Candian Superstore and Valu Mart. According to the analysis, the price range of $5 and below was the most competitive, with 433 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 prepared meals in Canada 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 pepperoni and meat lasagne as the most popular (by number of SKUs) prepared meals variants. These were priced 44.21% 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 Voila, Real Candian Superstore, Atlantic SuperMarket, Valu Mart and MetroCanada. According to the analysis, MetroCanada 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 prepared meals 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 prepared meals SKUs. However, to comprehensively grasp prepared meals market in Canada, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Canada prepared meals market, buy the report here.