Everyone is cutting back on spending. Some are car-pooling or even biking to work, and only shopping at stores that offer coupons or discounts because of membership.
But American’s have a big sweet tooth! Their buying of sweet treats is up 3 percent from the previous year. Many analysts say candy businesses will likely fare better than other non-essentials in these trying times. (As the prices for sugar, milk and cocoa rise, so have the prices for that sugar fix for that sweet tooth.)
Candy is still a relatively cheap treat for most consumers. They can afford to pay a dollar for that sweet. With consumers cutting back on long distance shopping, they choose drug and convenience stores that have big and easy access to candy aisles.
It’s the "feel good" factor. The dollar spent on a candy bar treat as apposed to the feeling of filling your gas tank for $100.00. Some consumers are treating themselves once a week to a premium chocolate, and feel no reason to cut back.
On the other side, the candy manufacturers are raising prices. Some of the biggest candy makers are consolidating. All sweet treats need to be transported (at $4 plus a gallon) to the consumer.
Candy has a reputation of getting people through tough times. Enjoy what you can!
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