Chocolate inflation in Australia stood at 8.760% 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 269 chocolate SKUs from companies such as Koko Black, Coles and Moser Roth 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 Harris Farm offered lowest prices of the total SKUs within the chocolate category from April through June 2024, followed by International Groceries and ALDI-Australia. According to the analysis, the price range of $5 and below was the most competitive, with 120 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, Harris Farm had greatest share of lowest prices for individual SKUs in chocolate 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 milk and 70% cocoa; dark as the most popular (by number of SKUs) chocolate variants. These were priced 22.44% higher than the average price of a chocolate SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Harris Farm, International Groceries, ALDI-Australia, Coles and Spar Australia. According to the analysis, ALDI-Australia had the lowest average unit price, while the retailer with the widest product assortment was Harris Farm.
The report brings attention to the intricate pricing dynamics within the chocolate market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Harris Farm, International Groceries and ALDI-Australia stood out as prominent e-retailers, providing competitive pricing for a substantial number of chocolate SKUs. However, to comprehensively grasp chocolate market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia chocolate market, buy the report here.
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