Rum inflation in the UK stood at 0.060% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q2 2023, GlobalData monitored the pricing of 670 rum SKUs from companies such as Captain Morgan, Bacardi and Dead Man’s Fingers that were sold by e-retailers. Buy the report here.
Smarter leaders trust GlobalData
Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that The Bottle Club offered the lowest prices of the total SKUs within the rum category from April through June 2023, followed by Drinks Direct and Spirit Store. According to the analysis, the price range of $20 and $50 was the most competitive, with 458 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, The Bottle Club had the greatest share of lowest prices for individual SKUs in rum in the UK in Q2 2023.
Analysis of the quarterly price data showed that 365 Drinks offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed 40% alcohol and 37.5% alcohol; spiced as the most popular (by number of SKUs) rum variants. These were priced 24.38% 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 The Bottle Club, Drinks Direct, Spirit Store, Gerrys and Tesco. According to the analysis, Iceland had the lowest average unit price, while the retailer with the widest product assortment was The Bottle Club.
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, The Bottle Club, Drinks Direct and Spirit Store stood out as prominent e-retailers, providing competitive pricing for a substantial number of rum SKUs. However, to comprehensively grasp the rum market in the UK, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the UK's rum market, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
