Still wine inflation in China stood at 45.530% 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 297 still wine SKUs from companies such as Great Wall Wine, Changyu and Land of Basarabia 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 Gome offered lowest prices of the total SKUs within the still wine category from January through March 2024, followed by GZ Grocery and My dmart. According to the analysis, the price range of $20 and $50 was the most competitive, with 97 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, Gome had greatest share of lowest prices for individual SKUs in still wine in China in Q1 2024.
Analysis of the quarterly price data showed that Epermarket offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed cabernet sauvignon and 13% alcohol; cabernet sauvignon as the most popular (by number of SKUs) still wine variants. These were priced 70.69% lower than the average price of a still wine SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Gome, GZ Grocery, My dmart, Epermarket and Suning. According to the analysis, Suning had the lowest average unit price, while the retailer with the widest product assortment was Gome.
The report brings attention to the intricate pricing dynamics within the still wine market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Gome, GZ Grocery and My dmart stood out as prominent e-retailers, providing competitive pricing for a substantial number of still wine SKUs. However, to comprehensively grasp still wine market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China still wine 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.
