Butter & spreadable fats inflation in the UK stood at -0.010% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q2 2023, GlobalData monitored the pricing of 174 butter & spreadable fats SKUs from companies such as Lurpak, Anchor and Country Life 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 Tesco offered lowest prices of the total SKUs within the butter & spreadable fats category from April through June 2023, followed by Morrisons and ASDA. According to the analysis, the price range of $5 and below was the most competitive, with 137 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, Tesco had greatest share of lowest prices for individual SKUs in butter & spreadable fats in the UK in Q2 2023.
Analysis of the quarterly price data showed that no discounts were offered for butter & spreadable fats category by the retailers tracked by GlobalData. Among variants, the tracker revealed spreadable and original as the most popular (by number of SKUs) butter & spreadable fats variants. These were priced 24.46% higher than the average price of a butter & spreadable fats SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Tesco, Morrisons, Ocado, Iceland and ASDA. According to the analysis, Bestway had the lowest average unit price, while the retailer with the widest product assortment was Tesco.
The report brings attention to the intricate pricing dynamics within the butter & spreadable fats market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Tesco, Morrisons and ASDA stood out as prominent e-retailers, providing competitive pricing for a substantial number of butter & spreadable fats SKUs. However, to comprehensively grasp butter & spreadable fats market in the UK, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the UK butter & spreadable fats market, buy the report here.