Cereal bars 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 522 cereal bars SKUs from companies such as Kind, Nature Valley and Larabar 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 Hannaford offered lowest prices of the total SKUs within the cereal bars category from April through June 2023, followed by Wegmans and Target. According to the analysis, the price range of $5 and below was the most competitive, with 317 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, Hannaford had greatest share of lowest prices for individual SKUs in cereal bars 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 chocolate chip and peanut butter as the most popular (by number of SKUs) cereal bars variants. These were priced 10.51% higher than the average price of a cereal bars SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Hannaford, Wegmans, Target, Coborns Delivers and Staples. According to the analysis, LIDLUS had the lowest average unit price, while the retailer with the widest product assortment was Hannaford.
The report brings attention to the intricate pricing dynamics within the cereal bars market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Hannaford, Wegmans and Target stood out as prominent e-retailers, providing competitive pricing for a substantial number of cereal bars SKUs. However, to comprehensively grasp cereal bars 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 cereal bars market, buy the report here.