Prepared meals inflation in Hong Kong stood at 93.490% 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 88 prepared meals SKUs from companies such as Nissin, Knorr and Demae Ramen 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 ParkNShop offered lowest prices of the total SKUs within the prepared meals category from October through December 2024, followed by Wellcome and SaSa. According to the analysis, the price range of $5 and below was the most competitive, with 72 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 prepared meals in Hong Kong in Q4 2024.
Analysis of the quarterly price data showed that no discounts were offered for prepared meals category by the retailers tracked by GlobalData. Among variants, the tracker revealed chicken; macaroni and seafood; cup noodles as the most popular (by number of SKUs) prepared meals variants. These were priced 57.11% higher 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 ParkNShop, Wellcome, SaSa, and . According to the analysis, Wellcome 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 prepared meals market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, ParkNShop, Wellcome and SaSa 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 Hong Kong, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Hong Kong prepared meals 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.
