Soups inflation in India stood at -2.430% 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 17 soups SKUs from companies such as Knorr, Organic Roots and Bambino 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 Natures Basket offered lowest prices of the total SKUs within the soups category from July through September 2024, followed by Lulu-India and Big Basket. According to the analysis, the price range of $5 and below was the most competitive, with 15 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, Natures Basket had greatest share of lowest prices for individual SKUs in soups in India in Q3 2024.
Analysis of the quarterly price data showed that no discounts were offered for soups category by the retailers tracked by GlobalData. Among variants, the tracker revealed tomato and mushroom as the most popular (by number of SKUs) soups variants. These were priced 90.91% lower than the average price of a soups SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Natures Basket, Lulu-India, Big Basket, and . According to the analysis, Lulu-India had the lowest average unit price, while the retailer with the widest product assortment was Natures Basket.
The report brings attention to the intricate pricing dynamics within the soups market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Natures Basket, Lulu-India and Big Basket stood out as prominent e-retailers, providing competitive pricing for a substantial number of soups SKUs. However, to comprehensively grasp soups market in India, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the India soups 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.
