Dried & instant noodles 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 159 dried & instant noodles SKUs from companies such as Batchelors, Koka and Mama 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 Tesco offered lowest prices of the total SKUs within the dried & instant noodles category from April through June 2023, followed by ASDA and Bestway. According to the analysis, the price range of $5 and below was the most competitive, with 156 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, Tesco had greatest share of lowest prices for individual SKUs in dried & instant noodles in the UK in Q2 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 chicken and fine; egg as the most popular (by number of SKUs) dried & instant noodles variants. These were priced 27.27% 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 Tesco, ASDA, Bestway, Morrisons and The Plantbase Store. According to the analysis, B&M had the lowest average unit price, while the retailer with the widest product assortment was Tesco.
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, Tesco, ASDA and Bestway 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 the UK, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the UK dried & instant noodles market, buy the report here.