Rum inflation in Australia stood at -0.890% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q1 2024, GlobalData monitored the pricing of 148 rum SKUs from companies such as Bundaberg, Bacardi and Captain Morgan 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 Copper And Oak offered lowest prices of the total SKUs within the rum category from January through March 2024, followed by Dan Murphys and Coles. According to the analysis, the price range of $20 and $50 was the most competitive, with 77 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, Copper And Oak had greatest share of lowest prices for individual SKUs in rum in Australia in Q1 2024.
Analysis of the quarterly price data showed that no discounts were offered for rum category by the retailers tracked by GlobalData. Among variants, the tracker revealed 40% alcohol; black spiced and 40% alcohol; spiced as the most popular (by number of SKUs) rum variants. These were priced 32.48% lower than the average price of a rum SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Copper And Oak, Dan Murphys, Coles, and . According to the analysis, Coles had the lowest average unit price, while the retailer with the widest product assortment was Copper And Oak.
The report brings attention to the intricate pricing dynamics within the rum market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Copper And Oak, Dan Murphys and Coles stood out as prominent e-retailers, providing competitive pricing for a substantial number of rum SKUs. However, to comprehensively grasp rum market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia rum market, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s online price intelligence platform helps users analyze price leadership and price gaps, as well as visualize product variants at the SKU level, across multiple geographies, retailers, and categories. The platform, a product of Consumer Intelligence Center provides price insights from more than 370 online retailers across 44 countries.
