Energy bars inflation in the US stood at 0.110% 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 474 energy bars SKUs from companies such as Clif Bar, Quest Nutrition and RXBar 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 Wegmans offered lowest prices of the total SKUs within the energy bars category from April through June 2023, followed by Hannaford and Target. According to the analysis, the price range of $5 and below was the most competitive, with 234 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, Wegmans had greatest share of lowest prices for individual SKUs in energy bars in the US in Q2 2023.
Analysis of the quarterly price data showed that Staples offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed chocolate & peanut butter; protein bar and chocolate chip cookie dough; protein bar as the most popular (by number of SKUs) energy bars variants. These were priced 4.42% lower than the average price of a energy bars SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Wegmans, Hannaford, Target, Coborns Delivers and Staples. According to the analysis, Coborns Delivers had the lowest average unit price, while the retailer with the widest product assortment was Wegmans.
The report brings attention to the intricate pricing dynamics within the energy bars market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Wegmans, Hannaford and Target stood out as prominent e-retailers, providing competitive pricing for a substantial number of energy bars SKUs. However, to comprehensively grasp energy bars 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 energy bars market, buy the report here.