Prepared meals inflation in Australia stood at -10.540% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q2 2024, GlobalData monitored the pricing of 288 prepared meals SKUs from companies such as Mccain, Coles Kitchen and On the Menu 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 Spar Australia offered lowest prices of the total SKUs within the prepared meals category from April through June 2024, followed by Coles and Harris Farm. According to the analysis, the price range of $5 and $10 was the most competitive, with 143 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, Spar Australia had greatest share of lowest prices for individual SKUs in prepared meals in Australia in Q2 2024.
Analysis of the quarterly price data showed that NULL offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed beef; cup and chicken; cup as the most popular (by number of SKUs) prepared meals variants. These were priced 63.69% lower than the average price of a prepared meals SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Spar Australia, Coles, Harris Farm, International Groceries and NULL. According to the analysis, Spar Australia had the lowest average unit price, while the retailer with the widest product assortment was Spar Australia.
The report brings attention to the intricate pricing dynamics within the prepared meals market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Spar Australia, Coles and Harris Farm stood out as prominent e-retailers, providing competitive pricing for a substantial number of prepared meals SKUs. However, to comprehensively grasp prepared meals market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia prepared meals market, buy the report here.
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