Dried & instant noodles inflation in the US stood at 0.040% 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 85 dried & instant noodles SKUs from companies such as Food Club, Creamette and Twin Marquis 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 Coborns Delivers offered lowest prices of the total SKUs within the dried & instant noodles category from April through June 2023, followed by Wegmans and Hannaford. According to the analysis, the price range of $5 and below was the most competitive, with 81 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, Coborns Delivers had greatest share of lowest prices for individual SKUs in dried & instant noodles in the US in Q2 2023.
Analysis of the quarterly price data showed that Hannaford offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed spaghetti and thin spaghetti as the most popular (by number of SKUs) dried & instant noodles variants. These were priced 14.2% 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 Coborns Delivers, Wegmans, Hannaford, Target and Vegan Essentials. According to the analysis, LIDLUS had the lowest average unit price, while the retailer with the widest product assortment was Coborns Delivers.
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, Coborns Delivers, Wegmans and Hannaford 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 US, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the US dried & instant noodles market, buy the report here.