Sweet spreads inflation in Australia stood at -12.590% 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 104 sweet spreads SKUs from companies such as Honest to Goodness, Mayver’s and Noya 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 Harris Farm offered lowest prices of the total SKUs within the sweet spreads category from April through June 2024, followed by Goodness and Spar Australia. According to the analysis, the price range of $5 and $10 was the most competitive, with 55 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, Harris Farm had greatest share of lowest prices for individual SKUs in sweet spreads in Australia in Q2 2024.
Analysis of the quarterly price data showed that Goodness offered the highest number of SKUs on discount among the listed SKUs for each retailer. Among variants, the tracker revealed smooth; peanut butter and crunchy; peanut butter as the most popular (by number of SKUs) sweet spreads variants. These were priced 31.92% lower than the average price of a sweet spreads SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Harris Farm, Goodness, Spar Australia, International Groceries and Coles. According to the analysis, Coles had the lowest average unit price, while the retailer with the widest product assortment was Harris Farm.
The report brings attention to the intricate pricing dynamics within the sweet spreads market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Harris Farm, Goodness and Spar Australia stood out as prominent e-retailers, providing competitive pricing for a substantial number of sweet spreads SKUs. However, to comprehensively grasp sweet spreads market in Australia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Australia sweet spreads market, buy the report here.
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