Chocolate inflation in China stood at 11.260% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q4 2023, GlobalData monitored the pricing of 123 chocolate SKUs from companies such as Whitakers, Ritter Sport and Dove-Mars 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 Epermarket offered lowest prices of the total SKUs within the chocolate category from October through December 2023, followed by RT-MART and GZ Grocery. According to the analysis, the price range of $5 and below was the most competitive, with 74 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, Epermarket had greatest share of lowest prices for individual SKUs in chocolate in China in Q4 2023.
Analysis of the quarterly price data showed that RT-MART offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed milk and dark as the most popular (by number of SKUs) chocolate variants. These were priced 30.81% higher than the average price of a chocolate SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Epermarket, RT-MART, GZ Grocery, Suning and JD. According to the analysis, Suning had the lowest average unit price, while the retailer with the widest product assortment was Epermarket.
The report brings attention to the intricate pricing dynamics within the chocolate market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Epermarket, RT-MART and GZ Grocery stood out as prominent e-retailers, providing competitive pricing for a substantial number of chocolate SKUs. However, to comprehensively grasp chocolate market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China chocolate market, buy the report here.