Baking ingredients inflation in Hong Kong stood at 3.890% 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 20 baking ingredients SKUs from companies such as Hershey’s, Navitas Organics and Pan Pacific that were sold by e-retailers. Buy the report here.
Smarter leaders trust GlobalData
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 baking ingredients category from July through September 2024, followed by ParkNShop and Biovea. According to the analysis, the price range of $5 and below was the most competitive, with 10 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 baking ingredients 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 active dried yeast and dry baker's; instant yeast as the most popular (by number of SKUs) baking ingredients variants. These were priced 70.26% lower than the average price of a baking ingredients SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Wellcome, ParkNShop, Biovea, Huorganic and . According to the analysis, ParkNShop 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 baking ingredients 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 baking ingredients SKUs. However, to comprehensively grasp baking ingredients 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 baking ingredients market, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
