Oils and fats inflation in the UK stood at 0.070% 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 331 oils and fats SKUs from companies such as Filippo Berio, Tesco and Napolina 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 Tesco offered lowest prices of the total SKUs within the oils and fats category from April through June 2023, followed by ASDA and Holland And Barrett. According to the analysis, the price range of $5 and $10 was the most competitive, with 132 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 oils and fats 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 extra virgin; olive and vegetable as the most popular (by number of SKUs) oils and fats variants. These were priced 23.56% 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 Tesco, Morrisons, ASDA, Ocado and Holland And Barrett. 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 oils and fats market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Tesco, ASDA and Holland And Barrett stood out as prominent e-retailers, providing competitive pricing for a substantial number of oils and fats SKUs. However, to comprehensively grasp oils and fats 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 oils and fats market, buy the report here.