Sugar confectionery inflation in Hong Kong stood at 35.790% 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 166 sugar confectionery SKUs from companies such as Nimm2, Uha Mikakuto and Meiji 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 sugar confectionery category from July through September 2024, followed by Wellcome and Biovea. According to the analysis, the price range of $5 and below was the most competitive, with 152 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 sugar confectionery in Hong Kong in Q3 2024.
Analysis of the quarterly price data showed that Biovea offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed original and marshmallow as the most popular (by number of SKUs) sugar confectionery variants. These were priced 40.38% higher than the average price of a sugar confectionery SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were ParkNShop, Wellcome, Biovea, 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 sugar confectionery market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, ParkNShop, Wellcome and Biovea stood out as prominent e-retailers, providing competitive pricing for a substantial number of sugar confectionery SKUs. However, to comprehensively grasp sugar confectionery 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 sugar confectionery market, buy the report here.
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