Condiment sauces inflation in Hong Kong stood at 10.110% 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 168 condiment sauces SKUs from companies such as Lee Kum Kee, Amoy and Tung Chun that were sold by e-retailers. Buy the report here.

Smarter leaders trust GlobalData

Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that ParkNShop offered lowest prices of the total SKUs within the condiment sauces category from October through December 2023, followed by Biovea and Cabinet Organic. According to the analysis, the price range of $5 and below was the most competitive, with 139 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, ParkNShop had greatest share of lowest prices for individual SKUs in condiment sauces in Hong Kong in Q4 2023.

Analysis of the quarterly price data showed that Biovea offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed premium; soy and premium; oyster as the most popular (by number of SKUs) condiment sauces variants. These were priced 17.52% higher than the average price of a condiment sauces SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were ParkNShop, Biovea, Cabinet Organic, and . According to the analysis, ParkNShop had the lowest average unit price, while the retailer with the widest product assortment was ParkNShop.

The report brings attention to the intricate pricing dynamics within the condiment sauces market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, ParkNShop, Biovea and Cabinet Organic stood out as prominent e-retailers, providing competitive pricing for a substantial number of condiment sauces SKUs. However, to comprehensively grasp condiment sauces market in Hong Kong, continuous tracking of SKU pricing over time is necessary.

For a more detailed analysis of pricing trends in the Hong Kong condiment sauces market, buy the report here.

Premium Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.