Meat inflation in Japan stood at 0.180% 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 68 meat SKUs from companies such as The Meat Guy, Seiyu and Inaba Food 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 the lowest prices of the total SKUs within the meat category from April through June 2023, followed by Seiyu and The Flying Pig. According to the analysis, the price range of $5 and below was the most competitive, with 22 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 the greatest share of lowest prices for individual SKUs in meat in Japan in Q2 2023.
Analysis of the quarterly price data showed that TheMeatGuy offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed chicken thigh and australian; rib eye; steak as the most popular (by number of SKUs) meat variants. These were priced 37.81% 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, Costco Japan and . 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 the meat market in Japan, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Japan's meat market, buy the report here.