Meat inflation in Japan stood at 6.370% 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 105 meat SKUs from companies such as The Meat Guy, Seiyu and Kirkland Signature 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 TheMeatGuy offered lowest prices of the total SKUs within the meat category from October through December 2023, followed by Seiyu and The Flying Pig. According to the analysis, the price range of $5 and below was the most competitive, with 35 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, TheMeatGuy had greatest share of lowest prices for individual SKUs in meat in Japan in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for meat category by the retailers tracked by GlobalData. Among variants, the tracker revealed ham and roasted; ribs; cube roll; block as the most popular (by number of SKUs) meat variants. These were priced 112.76% 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 TheMeatGuy, Seiyu, The Flying Pig, Amazon Japan and Costco Japan. According to the analysis, Seiyu had the lowest average unit price, while the retailer with the widest product assortment was TheMeatGuy.
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, TheMeatGuy, Seiyu and The Flying Pig stood out as prominent e-retailers, providing competitive pricing for a substantial number of meat SKUs. However, to comprehensively grasp meat market in Japan, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Japan meat market, buy the report here.