Meat inflation in Australia stood at 12.480% 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 526 meat SKUs from companies such as Coles, Harris Farm Markets and Primo 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 Coles offered lowest prices of the total SKUs within the meat category from April through June 2024, followed by Harris Farm and Spar Australia. According to the analysis, the price range of $5 and $10 was the most competitive, with 211 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, Coles had greatest share of lowest prices for individual SKUs in meat in Australia 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 bacon; rindless and bacon as the most popular (by number of SKUs) meat variants. These were priced 46.28% lower than the average price of a meat SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Coles, Harris Farm, Spar Australia, International Groceries and NULL. According to the analysis, Coles had the lowest average unit price, while the retailer with the widest product assortment was Coles.
The report brings attention to the intricate pricing dynamics within the meat market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Coles, Harris Farm and Spar Australia stood out as prominent e-retailers, providing competitive pricing for a substantial number of meat SKUs. However, to comprehensively grasp meat market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia meat market, buy the report here.
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