Chocolate inflation in the UK stood at 0.050% 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 1,484 chocolate SKUs from companies such as Dairy Milk, Galaxy and Cadbury 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 Bestway offered lowest prices of the total SKUs within the chocolate category from April through June 2023, followed by Ocado and Holland And Barrett. According to the analysis, the price range of $5 and below was the most competitive, with 1,185 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, Bestway had greatest share of lowest prices for individual SKUs in chocolate in the UK in Q2 2023.
Analysis of the quarterly price data showed that Boots offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed milk and bar as the most popular (by number of SKUs) chocolate variants. These were priced 47.29% lower 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 Bestway, Ocado, Tesco, ASDA and Holland And Barrett. According to the analysis, Poundland had the lowest average unit price, while the retailer with the widest product assortment was Bestway.
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, Bestway, Ocado and Holland And Barrett stood out as prominent e-retailers, providing competitive pricing for a substantial number of chocolate SKUs. However, to comprehensively grasp chocolate 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 chocolate 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.
