Sweet spreads inflation in China stood at 9.930% in Q3 2024, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q3 2024, GlobalData monitored the pricing of 85 sweet spreads SKUs from companies such as Skippy, Mayver’s and Guan Sheng Yuan 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 lowest prices of the total SKUs within the sweet spreads category from July through September 2024, followed by Gome and QX-era. According to the analysis, the price range of $5 and $10 was the most competitive, with 34 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 greatest share of lowest prices for individual SKUs in sweet spreads in China in Q3 2024.
Analysis of the quarterly price data showed that Epermarket offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed honey and chocolate & hazelnut as the most popular (by number of SKUs) sweet spreads variants. These were priced 24.28% lower than the average price of a sweet spreads SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Epermarket, Gome, QX-era, GZ Grocery and JD. According to the analysis, QX-era 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 sweet spreads market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Epermarket, Gome and QX-era stood out as prominent e-retailers, providing competitive pricing for a substantial number of sweet spreads SKUs. However, to comprehensively grasp sweet spreads market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China sweet spreads market, buy the report here.
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