Ice cream inflation in China stood at -1.250% 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 72 ice cream SKUs from companies such as Baxi, Bruno Gelato and Cornetto 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 ice cream category from October through December 2023, followed by GZ Grocery and JD. According to the analysis, the price range of $5 and $10 was the most competitive, with 33 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 ice cream in China in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for ice cream category by the retailers tracked by GlobalData. Among variants, the tracker revealed vanilla and chocolate as the most popular (by number of SKUs) ice cream variants. These were priced 22.8% higher than the average price of a ice cream SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Epermarket, GZ Grocery, JD, and . According to the analysis, Epermarket 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 ice cream market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Epermarket, GZ Grocery and JD stood out as prominent e-retailers, providing competitive pricing for a substantial number of ice cream SKUs. However, to comprehensively grasp ice cream market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China ice cream market, buy the report here.