Sweet spreads inflation in China stood at 0.510% 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 73 sweet spreads SKUs from companies such as Mayver’s, Skippy and Mibo 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 Epermarket offered lowest prices of the total SKUs within the sweet spreads category from October through December 2023, followed by My dmart and RT-MART. According to the analysis, the price range of $5 and $10 was the most competitive, with 35 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, Epermarket had greatest share of lowest prices for individual SKUs in sweet spreads in China in Q4 2023.
Analysis of the quarterly price data showed that RT-MART offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed honey and chocolate & hazelnut as the most popular (by number of SKUs) sweet spreads variants. These were priced 70.68% lower than the average price of a sweet spreads SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Epermarket, My dmart, RT-MART, GZ Grocery and Suning. According to the analysis, GZ Grocery had the lowest average unit price, while the retailer with the widest product assortment was Epermarket.
The report brings attention to the intricate pricing dynamics within the sweet spreads market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Epermarket, My dmart and RT-MART stood out as prominent e-retailers, providing competitive pricing for a substantial number of sweet spreads SKUs. However, to comprehensively grasp sweet spreads market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China sweet spreads 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.
