Sweet spreads inflation in the US stood at 0.010% 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 276 sweet spreads SKUs from companies such as Jif-J.M.Smucker, Skippy and Hannaford 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 Hannaford offered lowest prices of the total SKUs within the sweet spreads category from April through June 2023, followed by Wegmans and Coborns Delivers. According to the analysis, the price range of $5 and $10 was the most competitive, with 117 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 sweet spreads 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 creamy; peanut butter and natural; creamy; peanut butter as the most popular (by number of SKUs) sweet spreads variants. These were priced 49.02% 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 Hannaford, Wegmans, Coborns Delivers, Target and LIDLUS. 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 sweet spreads market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Hannaford, Wegmans and Coborns Delivers 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 the US, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the the US sweet spreads market, buy the report here.