Oils and fats inflation in Japan stood at -0.090% 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 44 oils and fats SKUs from companies such as Nisshin Foods, Kirkland Signature and Kikkoman 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 Seiyu offered the lowest prices of the total SKUs within the oils and fats category from April through June 2023, followed by Costco Japan and The Flying Pig. According to the analysis, the price range of $5 and below was the most competitive, with 17 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, Seiyu had the greatest share of lowest prices for individual SKUs in oils and fats in Japan in Q2 2023.
Analysis of the quarterly price data showed that no discounts were offered for oils and fats category by the retailers tracked by GlobalData. Among variants, the tracker revealed extra virgin; olive and organic; extra virgin; olive as the most popular (by number of SKUs) oils and fats variants. These were priced 4.5% higher 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 Seiyu, Costco Japan, The Flying Pig, Asia Superstore and . According to the analysis, Seiyu had the lowest average unit price, while the retailer with the widest product assortment was Seiyu.
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, Seiyu, Costco Japan and The Flying Pig 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 Japan, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Japan's oils and fats market, buy the report here.