Processed snacks inflation in Australia stood at -3.160% 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 248 processed snacks SKUs from companies such as Smith’s, Malabar Delights and Cheetos that were sold by e-retailers. Buy the report here.
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Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that Spar Australia offered lowest prices of the total SKUs within the processed snacks category from April through June 2024, followed by International Groceries and Harris Farm. According to the analysis, the price range of $5 and below was the most competitive, with 217 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, Spar Australia had greatest share of lowest prices for individual SKUs in processed snacks in Australia in Q2 2024.
Analysis of the quarterly price data showed that Goodness offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed banana chips and original cheese; rings as the most popular (by number of SKUs) processed snacks variants. These were priced 13.85% lower than the average price of a processed snacks SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Spar Australia, International Groceries, Harris Farm, Copper And Oak and Coles. According to the analysis, Coles had the lowest average unit price, while the retailer with the widest product assortment was Spar Australia.
The report brings attention to the intricate pricing dynamics within the processed snacks market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Spar Australia, International Groceries and Harris Farm stood out as prominent e-retailers, providing competitive pricing for a substantial number of processed snacks SKUs. However, to comprehensively grasp processed snacks market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia processed snacks market, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s online price intelligence platform helps users analyze price leadership and price gaps, as well as visualize product variants at the SKU level, across multiple geographies, retailers, and categories. The platform, a product of Consumer Intelligence Center provides price insights from more than 370 online retailers across 44 countries.
