Milk inflation in Canada stood at 3.110% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q1 2024, GlobalData monitored the pricing of 313 milk SKUs from companies such as Natrel, Lactantia and Neilson 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 MetroCanada offered lowest prices of the total SKUs within the milk category from January through March 2024, followed by Valu Mart and Voila. According to the analysis, the price range of $5 and below was the most competitive, with 238 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, MetroCanada had greatest share of lowest prices for individual SKUs in milk in Canada in Q1 2024.
Analysis of the quarterly price data showed that no discounts were offered for milk category by the retailers tracked by GlobalData. Among variants, the tracker revealed partly skimmed; chocolate and chocolate; milkshake as the most popular (by number of SKUs) milk variants. These were priced 6.56% lower than the average price of a milk SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were MetroCanada, Valu Mart, Voila, Real Candian Superstore and Atlantic SuperMarket. According to the analysis, Real Candian Superstore had the lowest average unit price, while the retailer with the widest product assortment was MetroCanada.
The report brings attention to the intricate pricing dynamics within the milk market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, MetroCanada, Valu Mart and Voila stood out as prominent e-retailers, providing competitive pricing for a substantial number of milk SKUs. However, to comprehensively grasp milk market in Canada, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Canada milk market, buy the report here.
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