Herbs, spices & seasonings inflation in Saudi Arabia stood at -1.460% 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 341 herbs, spices & seasonings SKUs from companies such as Mehran, Freshly and Esnad that were sold by e-retailers. Buy the report here.
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Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that Carrefour offered lowest prices of the total SKUs within the herbs, spices & seasonings category from January through March 2024, followed by Danube and Othaim Markets. According to the analysis, the price range of $5 and below was the most competitive, with 280 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, Carrefour had greatest share of lowest prices for individual SKUs in herbs, spices & seasonings in Saudi Arabia in Q1 2024.
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 curry powder and black pepper; powder as the most popular (by number of SKUs) herbs, spices & seasonings variants. These were priced 9.22% lower 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 Carrefour, Danube, Othaim Markets, Baqalah and Souq-Saudi Arabia. According to the analysis, Baqalah had the lowest average unit price, while the retailer with the widest product assortment was Carrefour.
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, Carrefour, Danube and Othaim Markets 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 Saudi Arabia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Saudi Arabia herbs, spices & seasonings market, buy the report here.
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