Soups inflation in the UK stood at 0.080% 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 357 soups SKUs from companies such as Heinz, Baxters and ASDA Extra Special 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 ASDA offered lowest prices of the total SKUs within the soups category from April through June 2023, followed by Tesco and Morrisons. According to the analysis, the price range of $5 and below was the most competitive, with 341 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, ASDA had greatest share of lowest prices for individual SKUs in soups in the UK in Q2 2023.

Analysis of the quarterly price data showed that no discounts were offered for soups category by the retailers tracked by GlobalData. Among variants, the tracker revealed minestrone and tomato as the most popular (by number of SKUs) soups variants. These were priced 5.25% lower than the average price of a soups SKU.

Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were ASDA, Tesco, Morrisons, Ocado and Bestway. According to the analysis, ASDA had the lowest average unit price, while the retailer with the widest product assortment was ASDA.

The report brings attention to the intricate pricing dynamics within the soups market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, ASDA, Tesco and Morrisons stood out as prominent e-retailers, providing competitive pricing for a substantial number of soups SKUs. However, to comprehensively grasp soups 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 soups market, buy the report here.

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