Processed snacks inflation in the US stood at -0.020% 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 564 processed snacks SKUs from companies such as Pringles, Doritos and Simply Tostitos 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 Hannaford offered lowest prices of the total SKUs within the processed snacks category from April through June 2023, followed by Target and Wegmans. According to the analysis, the price range of $5 and below was the most competitive, with 393 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, Hannaford had greatest share of lowest prices for individual SKUs in processed snacks in the US in Q2 2023.
Analysis of the quarterly price data showed that Hannaford offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed original and cheddar & sour cream as the most popular (by number of SKUs) processed snacks variants. These were priced 60.82% higher 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 Hannaford, Target, Wegmans, Coborns Delivers and Staples. According to the analysis, LIDLUS had the lowest average unit price, while the retailer with the widest product assortment was Hannaford.
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, Hannaford, Target and Wegmans 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 the US, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the US processed snacks market, buy the report here.
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