Dive Summary:
- Global confection sales hit $193.5 billion in 2012, $32.7 billion in the U.S., as the industry remained resilient even during troubling economic times around the world.
- Seasonal purchases were the deciding factor last year, making up 22% of all sales. These include Halloween, Easter and Christmas treats.
- Other interesting trends became apparent as well, including an affinity towards retro treats as well as increased sales of family size bags as more and more people stayed in to save money.
From the article:
Other trends in addition to seasonal spending noted by Fung included
· “sharing the big night in" or consumer tendencies to seek entertainment at home during challenging economic times. Manufacturers responded by creating resealable ‘share bags’ containing movie-style candies designed for home consumption among a group or for a couple;
· nostalgia, or retro-sweet reintroductions will be a prominent factor driving sales in 2013. Fung says these sweet evoke memories consumers are keen to revisit, particularly in tough economic times. When consumers initiate a ‘push,’ as they did in 2008 requesting Cadbury return the nostalgic Wispa bar to the market in the U.K., the relaunch can generate robust sales in a short time frame. The company sold 1.2 million bars in the first week of its relaunch.