Baby milks inflation in Hong Kong stood at 24.460% in Q3 2024, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q3 2024, GlobalData monitored the pricing of 83 baby milks SKUs from companies such as Friso, Illuma and Nan 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 Wellcome offered lowest prices of the total SKUs within the baby milks category from July through September 2024, followed by ParkNShop and Biovea. According to the analysis, the price range of $20 and $50 was the most competitive, with 57 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, Wellcome had greatest share of lowest prices for individual SKUs in baby milks in Hong Kong in Q3 2024.
Analysis of the quarterly price data showed that Biovea offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed gold; growing up; stage 3 and gold; stage 3 as the most popular (by number of SKUs) baby milks variants. These were priced 3.62% lower than the average price of a baby milks SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Wellcome, ParkNShop, Biovea, and . According to the analysis, Biovea had the lowest average unit price, while the retailer with the widest product assortment was Wellcome.
The report brings attention to the intricate pricing dynamics within the baby milks market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Wellcome, ParkNShop and Biovea stood out as prominent e-retailers, providing competitive pricing for a substantial number of baby milks SKUs. However, to comprehensively grasp baby milks market in Hong Kong, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Hong Kong baby milks 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.
