Halloween candy sales fall as US consumers cut spending

Summarised from 2 outlets · Updated 24 Oct, 15:02 · Archive

Halloween candy sales fell 6.7% in the month ending 17 October as Americans limit spending due to high living costs.

Halloween candy sales in the United States are declining sharply as consumers grapple with high living costs and rising prices. Sales fell 6.7% in the month ending 17 October compared to the same period last year, according to NielsenIQ, a market research firm. An 11.7% decline in mid-September erased the preseason gains that Halloween candy had enjoyed in the previous two years.

Chris Costagli, a vice president and food thought leader at NielsenIQ, attributed the decline to broader affordability pressures. Petrol prices have risen sharply, averaging $4.29 per gallon as of late October, up nearly 40% from the prior year. 'I think what you're seeing now is a consumer that's spending so much additional money on fuel and housing and clothing and food,' Costagli said. 'Some of the decisions they're making about Halloween candy, it's not necessarily because, I notice it's more expensive than last year, it's, I can't afford it this year because I've paid so much more for so many other things.'

Small bags of candy were the only size category experiencing sales growth through mid-October, while large and extra-large bags saw the biggest declines. Candy and gum prices have risen 44% over a five-year period, significantly outpacing the 22.5% increase in all food prices eaten at home.

Halloween candy sales fall as US consumers cut spending — Image: Clickorlando

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Halloween candy sales are off to a slow start amid high chocolate prices and affordability concernsHalloween candy sales are off to a slow start this year as U.S. consumers grapple with high living costs and eye-popping chocolate prices.Clickorlando · 24 Oct, 14:42
Halloween candy sales are off to a slow start amid high chocolate prices and affordability concernsHalloween candy sales are off to a slow start this year as U.S. consumers grapple with high living costs and eye-popping chocolate prices.News4Jax · 24 Oct, 14:42

In this story: NielsenIQ · United States

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