Processed snacks inflation in China stood at 66.260% 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 164 processed snacks SKUs from companies such as Rice Up!, Ganyuan and Hwa Yuan Foods 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 QX-era offered lowest prices of the total SKUs within the processed snacks category from January through March 2024, followed by My dmart and Epermarket. According to the analysis, the price range of $5 and below was the most competitive, with 145 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, QX-era had greatest share of lowest prices for individual SKUs in processed snacks in China in Q1 2024.
Analysis of the quarterly price data showed that RT-MART offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed nacho cheese; tortilla chips and beef; orchid beans as the most popular (by number of SKUs) processed snacks variants. These were priced 61.69% lower than the average price of a processed snacks SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were QX-era, My dmart, Epermarket, RT-MART and GZ Grocery. According to the analysis, My dmart had the lowest average unit price, while the retailer with the widest product assortment was QX-era.
The report brings attention to the intricate pricing dynamics within the processed snacks market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, QX-era, My dmart and Epermarket stood out as prominent e-retailers, providing competitive pricing for a substantial number of processed snacks SKUs. However, to comprehensively grasp processed snacks market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China processed snacks 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.
