Meat inflation in Hong Kong stood at -0.930% 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 235 meat SKUs from companies such as Jett Foods, Greatwall Brand and MaLing 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 ParkNShop offered lowest prices of the total SKUs within the meat category from July through September 2024, followed by Wellcome and Jett Foods. According to the analysis, the price range of $5 and below was the most competitive, with 131 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, ParkNShop had greatest share of lowest prices for individual SKUs in meat in Hong Kong in Q3 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 96.37% 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 ParkNShop, Wellcome, Jett Foods, and . According to the analysis, ParkNShop had the lowest average unit price, while the retailer with the widest product assortment was ParkNShop.
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, ParkNShop, Wellcome 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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