Fish & seafood inflation in China stood at -18.260% 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 255 fish & seafood SKUs from companies such as Eper Market, Jinluo and Ayam Brand 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 Epermarket offered lowest prices of the total SKUs within the fish & seafood category from January through March 2024, followed by QX-era and Gome. According to the analysis, the price range of $5 and below was the most competitive, with 123 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, Epermarket had greatest share of lowest prices for individual SKUs in fish & seafood 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 black bean sauce; dace and yellow croaker as the most popular (by number of SKUs) fish & seafood variants. These were priced 42.16% lower than the average price of a fish & seafood SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Epermarket, QX-era, Gome, My dmart and GZ Grocery. According to the analysis, QX-era had the lowest average unit price, while the retailer with the widest product assortment was Epermarket.
The report brings attention to the intricate pricing dynamics within the fish & seafood market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Epermarket, QX-era and Gome stood out as prominent e-retailers, providing competitive pricing for a substantial number of fish & seafood SKUs. However, to comprehensively grasp fish & seafood market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China fish & seafood market, buy the report here.
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