Wet cooking sauces inflation in Australia stood at -8.320% 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 166 wet cooking sauces SKUs from companies such as Continental, Leggo’s and Dolmio 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 Spar Australia offered lowest prices of the total SKUs within the wet cooking sauces category from April through June 2024, followed by Harris Farm and International Groceries. According to the analysis, the price range of $5 and below was the most competitive, with 135 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 wet cooking sauces 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 napoletana; pasta sauce and tomato; pesto as the most popular (by number of SKUs) wet cooking sauces variants. These were priced 26.79% lower than the average price of a wet cooking sauces SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Spar Australia, Harris Farm, International Groceries, Goodness and Coles. According to the analysis, Spar Australia 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 wet cooking sauces market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Spar Australia, Harris Farm and International Groceries stood out as prominent e-retailers, providing competitive pricing for a substantial number of wet cooking sauces SKUs. However, to comprehensively grasp wet cooking sauces market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia wet cooking sauces market, buy the report here.
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