Soymilk & soydrinks inflation in China stood at 0.100% 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 29 soymilk & soydrinks SKUs from companies such as Pureharvest, Soyfresh and Valsoia 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 Epermarket offered the lowest prices of the total SKUs within the soymilk & soydrinks category from April through June 2023, followed by GZ Grocery and My dmart. According to the analysis, the price range of $5 and below was the most competitive, with 16 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, Epermarket had the greatest share of lowest prices for individual SKUs in soymilk & soydrinks in China in Q2 2023.
Analysis of the quarterly price data showed that no discounts were offered for soymilk & soydrinks category by the retailers tracked by GlobalData. Among variants, the tracker revealed chocolate; soy milk and original; soy milk as the most popular (by number of SKUs) soymilk & soydrinks variants. These were priced 54.28% lower than the average price of a soymilk & soydrinks SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Epermarket, GZ Grocery, My dmart, and . According to the analysis, My dmart had the lowest average unit price, while the retailer with the widest product assortment was Epermarket.
The report brings attention to the intricate pricing dynamics within the soymilk & soydrinks market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Epermarket, GZ Grocery and My dmart stood out as prominent e-retailers, providing competitive pricing for a substantial number of soymilk & soydrinks SKUs. However, to comprehensively grasp the soymilk & soydrinks market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China's soymilk & soydrinks market, buy the report here.