Milk inflation in China stood at -6.790% 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 174 milk SKUs from companies such as Yili, Volksmilch and Mengniu 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 Gome offered lowest prices of the total SKUs within the milk category from July through September 2024, followed by QX-era and Epermarket. According to the analysis, the price range of $5 and below was the most competitive, with 61 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, Gome had greatest share of lowest prices for individual SKUs in milk in China in Q3 2024.
Analysis of the quarterly price data showed that Epermarket offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed low fat and full cream as the most popular (by number of SKUs) milk variants. These were priced 152.33% higher than the average price of a milk SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Gome, QX-era, Epermarket, GZ Grocery and JD. According to the analysis, JD had the lowest average unit price, while the retailer with the widest product assortment was Gome.
The report brings attention to the intricate pricing dynamics within the milk market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Gome, QX-era and Epermarket stood out as prominent e-retailers, providing competitive pricing for a substantial number of milk SKUs. However, to comprehensively grasp milk market in China, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the China milk 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.
