Butter & spreadable fats inflation in the US stood at -0.020% 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 129 butter & spreadable fats SKUs from companies such as Land O’Lakes, Country Crock and Wegmans Food You Feel Good About 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 Wegmans offered lowest prices of the total SKUs within the butter & spreadable fats category from April through June 2023, followed by Hannaford and Coborns Delivers. According to the analysis, the price range of $5 and below was the most competitive, with 88 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, Wegmans had greatest share of lowest prices for individual SKUs in butter & spreadable fats in the US in Q2 2023.
Analysis of the quarterly price data showed that Hannaford offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed salted; butter and unsalted; butter as the most popular (by number of SKUs) butter & spreadable fats variants. These were priced 9.41% 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 Wegmans, Hannaford, Coborns Delivers, LIDLUS and Target. According to the analysis, LIDLUS had the lowest average unit price, while the retailer with the widest product assortment was Wegmans.
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, Wegmans, Hannaford and Coborns Delivers 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 US, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the US butter & spreadable fats market, buy the report here.