Meat inflation in Hong Kong stood at -23.960% in Q4 2024, according to GlobalDatas report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q4 2024, GlobalData monitored the pricing of 429 meat SKUs from companies such as Jett Foods, Cp and Greatwall Brand 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. GlobalDatas pricing analysis reveals that Wellcome offered lowest prices of the total SKUs within the meat category from October through December 2024, followed by ParkNShop and Jett Foods. According to the analysis, the price range of $5 and below was the most competitive, with 197 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 meat in Hong Kong in Q4 2024.
Analysis of the quarterly price data showed that no discounts were offered for meat category by the retailers tracked by GlobalData. Among variants, the tracker revealed luncheon meat and chopped; ham & pork as the most popular (by number of SKUs) meat variants. These were priced 66.15% lower than the average price of a meat SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Wellcome, ParkNShop, Jett Foods, 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 meat market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Wellcome, ParkNShop and Jett Foods stood out as prominent e-retailers, providing competitive pricing for a substantial number of meat SKUs. However, to comprehensively grasp meat 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 meat 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.
