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SIAL China|Growing Price of Soft Drinks: Only 10% below ¥3

2024.02.28

As SIAL China oberves, over the past year, "price increase" has become a familiar word to consumers word.

Relevant trend-search content shows that the price of Master Kong tea and juice products rose from 3 yuan per bottle 3.5 yuan per bottle, and that of 1L pack from 4 yuan per bottle to 5 yuan per bottle. In this regard, Master Kong customer service responded that there is indeed a price increase notice. In addition, in January last year, Nutrifresh raised the selling price of two items of lactobacilli drinks "Nutrifresh" and "Nutrifresh Low Sugar" sold throughout China since that month; in March last year, the "flavor power" brand rose the factory price of part of its products by 3% -6%; last year in May, in many parts of the country Coca-Cola have carried out different degrees of price increases.

As for the reasons for the price increase, the enterprises gave a largely consistent response: the rise of costs in raw materials, labor and other category.

On the consumer level, did drinks below 3 yuan really disappear from today's terminal market?

Recently, Red Star Capital Bureau visited a number of convenience stores located near Chunxi Road in Chengdu City, and found that there are only a handful of beverage products below three yuan in the beverage counter.

However, the prices of beverages tend to vary from city to city and from channel provider to channel provider. For example, the prices of beverages in large stores are usually lower than those in convenience stores.

Win Now has released a set of offline retail monitoring data, which was tallied for the entire year of 2023. The data showed that in the Top100, there were only 10 products below $3, accounting for about 10%; products in the $3-4 price band accounted for 24%, and products in the $4-5 price band were the most numerous, accounting for 29%; $5-6 also accounted for 28%.

It can be seen that there are really not many types of beverages available for consumers to choose from at $3 and below.

However, in terms of user preference, consumers who choose to buy beverages above $5 are actually not the majority.

According to a questionnaire released by Southern Weekend, of the 3,504 respondents, 397 users, or 11.32%, said they often drank beverages costing more than 5 yuan; in contrast, more consumers chose the 1-3 yuan and 3-5 yuan price ranges.

Overall, it has become very common for beverage manufacturers to announce price increases in recent years, and the percentage of beverages below $3 on the market is now getting smaller, but beverages priced below $5 are still the main demand of consumers.

So what affects the selling price of beverages?

SIAL China has an answer. Considering the cost, according to the data measured by Haitong Securities Institute, the cost of the soft drink industry, manufacturing and labor, PET, carton, sugar, juice, other raw materials accounted for 20%, 20%, 20%, 15%, 10%, 10%, 15%.

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