Herbs, spices & seasonings inflation in Canada stood at 15.960% 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 396 herbs, spices & seasonings SKUs from companies such as Club House, Compliments and President’s Choice 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 Voila offered lowest prices of the total SKUs within the herbs, spices & seasonings category from October through December 2023, followed by Atlantic SuperMarket and Valu Mart. According to the analysis, the price range of $5 and below was the most competitive, with 275 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, Voila had greatest share of lowest prices for individual SKUs in herbs, spices & seasonings in Canada in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for herbs, spices & seasonings category by the retailers tracked by GlobalData. Among variants, the tracker revealed ground; black pepper and ground; cinnamon as the most popular (by number of SKUs) herbs, spices & seasonings variants. These were priced 23.52% higher than the average price of a herbs, spices & seasonings SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Voila, Atlantic SuperMarket, Valu Mart, Plantx Canada and Real Candian Superstore. According to the analysis, Real Candian Superstore had the lowest average unit price, while the retailer with the widest product assortment was Voila.
The report brings attention to the intricate pricing dynamics within the herbs, spices & seasonings market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Voila, Atlantic SuperMarket and Valu Mart stood out as prominent e-retailers, providing competitive pricing for a substantial number of herbs, spices & seasonings SKUs. However, to comprehensively grasp herbs, spices & seasonings market in Canada, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Canada herbs, spices & seasonings market, buy the report here.