As companies around the world struggle with price increases due to rising supply costs alongside disruptions in local and global supply chains, it is critical for companies to remain aware of changing online prices for their respective categories alongside how their competitors’ products are faring. Using Euromonitor International’s e-commerce tracking tool, Via, median prices for product categories alongside leading players and private label lines can be easily tracked and compared to understand:
- Which product categories are seeing the largest online median price increases and how do these compare to current inflation rates?
- How much are median prices increasing for leading players in the industry and how do these compare to private label?
Companies must use this information to stay up to speed on changing prices and product portfolio performance to ensure their customers and potential clients have sufficient purchasing options, which will enable them to stay ahead of changing inflationary pressure.
Online median prices in key hygiene product categories seeing strong price increases
- Inflation in the US due to rising commodity prices and supply chain issues have led to a 4.3% raise in general goods and services since the start of the year to October.
- The hygiene product industry has specifically been strongly impacted as companies report rising commodity costs and supply chain disruptions. As a result, online median prices tracked in Via grew by 5.5% during the same time period, particularly spiking in April as supply chain disruptions intensified.
- With the exception of wipes, all categories in hygiene saw strong increases with sanitary protection products recording strong median price growth as companies struggled to meet demand. Procter & Gamble’s Always brand saw particularly high increases in median price during this time period.
Leading US players see large online median price increases
- Procter & Gamble and Kimberly-Clark account for nearly 60% of retail sales in the US in 2020. Alongside private label products, 80% of all hygiene products in the US are accounted for by just two leading players and private label in this concentrated industry.
Source: Euromonitor International Passport
- While retail hygiene saw online prices rise by 5.5% from January to October, the two largest players saw even higher online SKU median price increases and both companies have publicly acknowledged the need to raise prices due to rising commodity costs and supply chain issues.
- Meanwhile, private label comprised of products from Walgreens, Walmart, Target and other retailers, saw median prices actually decline during the same period.
Learn more about how Via can support your business and help you unlock key strategic and tactical insights with its standardised online product coverage across 40 countries, 1,500 online retailers and 11 consumer goods industries.