Dried & instant noodles inflation in Saudi Arabia stood at 1.620% 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 95 dried & instant noodles SKUs from companies such as Indomie, Maggi and Goody 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 Carrefour offered lowest prices of the total SKUs within the dried & instant noodles category from October through December 2023, followed by Danube and Othaim Markets. 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, Carrefour had greatest share of lowest prices for individual SKUs in dried & instant noodles in Saudi Arabia in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for dried & instant noodles category by the retailers tracked by GlobalData. Among variants, the tracker revealed vegetable and chicken as the most popular (by number of SKUs) dried & instant noodles variants. These were priced 61.85% higher 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 Carrefour, Danube, Othaim Markets, Souq-Saudi Arabia and Baqalah. According to the analysis, Othaim Markets had the lowest average unit price, while the retailer with the widest product assortment was Carrefour.
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, Carrefour, Danube and Othaim Markets 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 Saudi Arabia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Saudi Arabia dried & instant noodles market, buy the report here.