Processed snacks inflation in Australia stood at 0.590% 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 82 processed snacks SKUs from companies such as Smith’s, Corn Up and Honest Sea 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 International Groceries offered lowest prices of the total SKUs within the processed snacks category from October through December 2023, followed by Harris Farm and Copper And Oak. According to the analysis, the price range of $5 and below was the most competitive, with 68 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, International Groceries had greatest share of lowest prices for individual SKUs in processed snacks in Australia in Q4 2023.

Analysis of the quarterly price data showed that no discounts were offered for processed snacks category by the retailers tracked by GlobalData. Among variants, the tracker revealed banana chips and flamin hot as the most popular (by number of SKUs) processed snacks variants. These were priced 21.12% higher than the average price of a processed snacks SKU.

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

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

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

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