Meat inflation in the UK stood at 0.080% 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 1,382 meat SKUs from companies such as Tesco, Online Meat Shop and Morrisons that were sold by e-retailers. Buy the report here.
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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 meat category from April through June 2023, followed by Iceland and OnlineMeatShop. According to the analysis, the price range of $5 and below was the most competitive, with 787 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 meat 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 corned; beef and chicken breast fillet as the most popular (by number of SKUs) meat variants. These were priced 19% 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 Tesco, Iceland, OnlineMeatShop, ASDA and Morrisons. 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 meat market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Tesco, Iceland and OnlineMeatShop stood out as prominent e-retailers, providing competitive pricing for a substantial number of meat SKUs. However, to comprehensively grasp meat 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 meat market, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s online price intelligence platform helps users analyze price leadership and price gaps, as well as visualize product variants at the SKU level, across multiple geographies, retailers, and categories. The platform, a product of Consumer Intelligence Center provides price insights from more than 370 online retailers across 44 countries.
