Halloween candy sales fall as chocolate prices and living costs surge
Summarised from 2 outlets · Updated 25 Oct, 00:02 · Archive
Halloween candy sales in the United States fell 6.7% in mid-October compared with the same period last year.
Halloween candy sales in the United States fell 6.7% in the month ending 17 October compared with the same period last year, according to NielsenIQ, a market research firm. The decline erased preseason gains the category had enjoyed in the two previous years, with candy sales down 11.7% in mid-September.
Chris Costagli, a vice president and food thought leader at NielsenIQ, attributed the slowdown to high living costs dampening consumer spending. The average price of a gallon of regular gasoline in the U.S. was $4.29 as of Friday, 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."'
Candy prices have climbed faster than inflation for several years. As of September, candy and gum prices were up 44% over a five-year period, compared with 22.5% for all food eaten at home. Small bags of candy were the only size seeing sales growth through mid-October, while large and extra-large bags saw the biggest declines.
How it is being reported
- 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.TribLIVE · 24 Oct, 20:48
- Halloween candy sales are off to a slow start amid high chocolate prices and affordability concernsPittsburgh Post-Gazette · 24 Oct, 20:32
In this story: NielsenIQ · Chris Costagli · Mars Inc. · Aldi · United States
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