Chocolate inflation in China stood at -5.080% 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 100 chocolate SKUs from companies such as Dove, Heidi and Whitakers 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 Epermarket offered lowest prices of the total SKUs within the chocolate category from July through September 2024, followed by QX-era and GZ Grocery. According to the analysis, the price range of $5 and below was the most competitive, with 48 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, Epermarket had greatest share of lowest prices for individual SKUs in chocolate in China in Q3 2024.
Analysis of the quarterly price data showed that no discounts were offered for chocolate category by the retailers tracked by GlobalData. Among variants, the tracker revealed milk and dark as the most popular (by number of SKUs) chocolate variants. These were priced 36.91% 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 Epermarket, QX-era, GZ Grocery, Gome and JD. According to the analysis, Gome had the lowest average unit price, while the retailer with the widest product assortment was Epermarket.
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, Epermarket, QX-era and GZ Grocery stood out as prominent e-retailers, providing competitive pricing for a substantial number of chocolate SKUs. However, to comprehensively grasp chocolate market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China chocolate 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.
