Dried & instant noodles inflation in China stood at 22.350% 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 54 dried & instant noodles SKUs from companies such as Nissin, Qinmin and LONGKOU 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 RT-MART offered lowest prices of the total SKUs within the dried & instant noodles category from October through December 2023, followed by Epermarket and GZ Grocery. According to the analysis, the price range of $5 and below was the most competitive, with 44 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, RT-MART had greatest share of lowest prices for individual SKUs in dried & instant noodles 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 rice and chicken as the most popular (by number of SKUs) dried & instant noodles variants. These were priced 20.42% lower than the average price of a dried & instant noodles SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were RT-MART, Epermarket, GZ Grocery, and . According to the analysis, GZ Grocery had the lowest average unit price, while the retailer with the widest product assortment was RT-MART.
The report brings attention to the intricate pricing dynamics within the dried & instant noodles market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, RT-MART, Epermarket and GZ Grocery stood out as prominent e-retailers, providing competitive pricing for a substantial number of dried & instant noodles SKUs. However, to comprehensively grasp dried & instant noodles market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China dried & instant noodles market, buy the report here.