Dried & instant noodles inflation in China stood at -46.040% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q1 2024, GlobalData monitored the pricing of 715 dried & instant noodles SKUs from companies such as Master Kong, Uni-President and Baixiang 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 QX-era offered lowest prices of the total SKUs within the dried & instant noodles category from January through March 2024, followed by RT-MART and Gome. According to the analysis, the price range of $5 and below was the most competitive, with 485 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, QX-era had greatest share of lowest prices for individual SKUs in dried & instant noodles in China in Q1 2024.
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 braised beef and rice as the most popular (by number of SKUs) dried & instant noodles variants. These were priced 27.08% 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 QX-era, RT-MART, Gome, Epermarket and My dmart. According to the analysis, QX-era had the lowest average unit price, while the retailer with the widest product assortment was QX-era.
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, QX-era, RT-MART and Gome 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.
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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.
