Herbs, spices & seasonings inflation in the UK 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 1,319 herbs, spices & seasonings SKUs from companies such as Schwartz, Rajah and Tesco 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 Tesco offered lowest prices of the total SKUs within the herbs, spices & seasonings category from April through June 2023, followed by Bestway and Morrisons. According to the analysis, the price range of $5 and below was the most competitive, with 1,232 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, Tesco had greatest share of lowest prices for individual SKUs in herbs, spices & seasonings in the UK in Q2 2023.
Analysis of the quarterly price data showed that OnlineMeatShop offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed ground; black pepper and all purpose; seasoning as the most popular (by number of SKUs) herbs, spices & seasonings variants. These were priced 16% 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 Tesco, Morrisons, Ocado, Bestway and OnlineMeatShop. According to the analysis, B&M had the lowest average unit price, while the retailer with the widest product assortment was Tesco.
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, Tesco, Bestway and Morrisons 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 the UK, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the UK herbs, spices & seasonings market, buy the report here.