Oils and fats inflation in China stood at 0.620% 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 174 oils and fats SKUs from companies such as Arawana, Betis and Agric 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 JD offered the lowest prices of the total SKUs within the oils and fats category from April through June 2023, followed by Epermarket and GZ Grocery. According to the analysis, the price range of $5 and $10 was the most competitive, with 42 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, JD had the greatest share of lowest prices for individual SKUs in oils and fats in China in Q2 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 extra virgin; olive and canola as the most popular (by number of SKUs) oils and fats variants. These were priced 32.18% lower than the average price of a oils and fats SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were JD, Epermarket, GZ Grocery, Suning and . According to the analysis, GZ Grocery had the lowest average unit price, while the retailer with the widest product assortment was JD.

The report brings attention to the intricate pricing dynamics within the oils and fats market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, JD, Epermarket and GZ Grocery stood out as prominent e-retailers, providing competitive pricing for a substantial number of oils and fats SKUs. However, to comprehensively grasp the oils and fats market in China, continuous tracking of SKU pricing over time is necessary.

For a more detailed analysis of pricing trends in the China's oils and fats market, buy the report here.

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