Retailers, consumers and prices
Chocolate purchases on the rise
While Cadbury’s fate remains foggy, one piece of chocolate news is clear: people continue to satisfy their cravings.
According to Mintel, chocolate sales have risen around the world despite the recession.
China saw chocolate confectionery sales jump 18 percent this year, while in the Ukraine sales rose 12 percent. Each of those countries has seen steady increases since 2005 and Mintel expects growth to continue through 2013.
In Cadbury‘s home of Britain, sales of chocolate increased 5.9 percent in 2009. In America, the home of potential buyers Kraft and Hershey, people bought 2.6 percent more chocolate this year than last.
“Chocolate is a small, affordable indulgence for shoppers who are cutting back on spending elsewhere. Even in countries not known for chocolate consumption, sales are on the rise,” said Marcia Mogelonsky, global food and drink analyst at Mintel.
U.S. consumers spend $55 each a year to satisfy their cravings. Across the pond, those in Britain spend $106 each. The big spenders? Mintel said the Swiss buy the equivalent of $206 worth of chocolate per person annually.
What can chocoholics look forward to? More milk chocolate and smaller bars are some of the potential outcomes as companies try to mitigate the impact of soaring cocoa prices.