Baking ingredients inflation in Australia stood at -5.690% 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 52 baking ingredients SKUs from companies such as Honest to Goodness, Bob’s Red Mill and Callebaut 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 Goodness offered lowest prices of the total SKUs within the baking ingredients category from January through March 2024, followed by Harris Farm and International Groceries. According to the analysis, the price range of $5 and below was the most competitive, with 20 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, Goodness had greatest share of lowest prices for individual SKUs in baking ingredients in Australia in Q1 2024.

Analysis of the quarterly price data showed that no discounts were offered for baking ingredients category by the retailers tracked by GlobalData. Among variants, the tracker revealed baking powder and organic; coconut; shredded as the most popular (by number of SKUs) baking ingredients variants. These were priced 138.82% higher than the average price of a baking ingredients SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Goodness, Harris Farm, International Groceries, Coles and . According to the analysis, Coles had the lowest average unit price, while the retailer with the widest product assortment was Goodness.

The report brings attention to the intricate pricing dynamics within the baking ingredients market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Goodness, Harris Farm and International Groceries stood out as prominent e-retailers, providing competitive pricing for a substantial number of baking ingredients SKUs. However, to comprehensively grasp baking ingredients market in Australia, continuous tracking of SKU pricing over time is necessary.

For a more detailed analysis of pricing trends in the Australia baking ingredients 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.