Vodka inflation in China stood at 8.800% 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 46 vodka SKUs from companies such as Absolut, Grey Goose and Russian Standard that were sold by e-retailers. Buy the report here.
Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that My dmart offered lowest prices of the total SKUs within the vodka category from January through March 2024, followed by GZ Grocery and Epermarket. According to the analysis, the price range of $5 and $10 was the most competitive, with 13 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, My dmart had greatest share of lowest prices for individual SKUs in vodka in China in Q1 2024.
Analysis of the quarterly price data showed that no discounts were offered for vodka category by the retailers tracked by GlobalData. Among variants, the tracker revealed 40% alcohol and 40% alcohol; raspberry as the most popular (by number of SKUs) vodka variants. These were priced 16.26% lower than the average price of a vodka SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were My dmart, GZ Grocery, Epermarket, Gome and . According to the analysis, My dmart had the lowest average unit price, while the retailer with the widest product assortment was My dmart.
The report brings attention to the intricate pricing dynamics within the vodka market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, My dmart, GZ Grocery and Epermarket stood out as prominent e-retailers, providing competitive pricing for a substantial number of vodka SKUs. However, to comprehensively grasp vodka market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China vodka market, buy the report here.
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