Soups inflation in Japan stood at 24.500% 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 84 soups SKUs from companies such as Batchelors, Heinz and Ainsley Harriott 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 Amazon Japan offered lowest prices of the total SKUs within the soups category from October through December 2023, followed by Seiyu and Asia Superstore. According to the analysis, the price range of $5 and below was the most competitive, with 41 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, Amazon Japan had greatest share of lowest prices for individual SKUs in soups in Japan in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for soups category by the retailers tracked by GlobalData. Among variants, the tracker revealed cup a soup; chicken & leek and cup a soup; oxtail as the most popular (by number of SKUs) soups variants. These were priced 22.63% higher than the average price of a soups SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Amazon Japan, Seiyu, Asia Superstore, Costco Japan and The Flying Pig. According to the analysis, Seiyu had the lowest average unit price, while the retailer with the widest product assortment was Amazon Japan.
The report brings attention to the intricate pricing dynamics within the soups market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Amazon Japan, Seiyu and Asia Superstore stood out as prominent e-retailers, providing competitive pricing for a substantial number of soups SKUs. However, to comprehensively grasp soups market in Japan, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Japan soups 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.
