Condiment sauces inflation in China stood at 14.720% 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 621 condiment sauces SKUs from companies such as Haitian, Lee Kum Kee and Chubang 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 QX-era offered lowest prices of the total SKUs within the condiment sauces category from July through September 2024, followed by Epermarket and GZ Grocery. According to the analysis, the price range of $5 and below was the most competitive, with 552 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, QX-era had greatest share of lowest prices for individual SKUs in condiment sauces in China in Q3 2024.
Analysis of the quarterly price data showed that no discounts were offered for condiment sauces category by the retailers tracked by GlobalData. Among variants, the tracker revealed light; soy and soy as the most popular (by number of SKUs) condiment sauces variants. These were priced 29.37% higher than the average price of a condiment sauces SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were QX-era, Epermarket, GZ Grocery, Gome and . According to the analysis, QX-era had the lowest average unit price, while the retailer with the widest product assortment was QX-era.
The report brings attention to the intricate pricing dynamics within the condiment sauces market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, QX-era, Epermarket and GZ Grocery stood out as prominent e-retailers, providing competitive pricing for a substantial number of condiment sauces SKUs. However, to comprehensively grasp condiment sauces market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China condiment sauces 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.
