Cereal bars inflation in India stood at 2.400% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q2 2024, GlobalData monitored the pricing of 33 cereal bars SKUs from companies such as Ritebite, RiteBite Max Protein and Fit & Flex 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 Natures Basket offered lowest prices of the total SKUs within the cereal bars category from April through June 2024, followed by Lulu-India and Big Basket. According to the analysis, the price range of $5 and below was the most competitive, with 30 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, Natures Basket had greatest share of lowest prices for individual SKUs in cereal bars in India in Q2 2024.
Analysis of the quarterly price data showed that NULL offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed peanut butter and crunchy granola as the most popular (by number of SKUs) cereal bars variants. These were priced 17.93% lower than the average price of a cereal bars SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Natures Basket, Lulu-India, Big Basket, NULL and NULL. According to the analysis, Big Basket had the lowest average unit price, while the retailer with the widest product assortment was Natures Basket.
The report brings attention to the intricate pricing dynamics within the cereal bars market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Natures Basket, Lulu-India and Big Basket stood out as prominent e-retailers, providing competitive pricing for a substantial number of cereal bars SKUs. However, to comprehensively grasp cereal bars market in India, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the India cereal bars market, buy the report here.
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