Meat inflation in China stood at -40.370% 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 170 meat SKUs from companies such as Eper Market, Tender Plus and Tyson 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 meat 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 82 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 meat in China in Q4 2023.
Analysis of the quarterly price data showed that Epermarket offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed chicken wing and chicken leg as the most popular (by number of SKUs) meat variants. These were priced 18.8% lower than the average price of a meat 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, GZ Grocery 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 meat 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 meat SKUs. However, to comprehensively grasp meat market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China meat market, buy the report here.