Candy Industry: Snack & candy trends: 'Do as I say, not as I chew'
52% of shoppers have noticed price increases in snacks and candy.
With inflation and the Consumer Price Index reaching 1980s levels, 45% of grocery shoppers say they’re feeling the pinch on their finances. To learn how rising prices are affecting their grocery planning, 84.51°, the Cincinnati-based data powerhouse that helps Kroger and its partners create customer-centric shopper journeys, polled shoppers about their buying intentions.
With the Sweets & Snacks Expo kicking off in Chicago this week, the findings are timely. Here’s a taste of 84.51°’s Snacks & Sweets Supplement findings:
Have shoppers soured on snacks and candy?
When asked how they’re coping with grocery store price increases.
- 52% of shoppers say they’ve noticed price increases in snacks and candy. While that’s significant, they’re much more aware of rising prices in the dairy (82%), produce (78%), and deli/meat/fish (77%) categories.
- 64% say they’d cut back on snacks and candy “if money was tight.”
But crunching the sales numbers reveals a sweeter story.
Snacks say “so what” to a weakening economy.
- Overall category sales have risen 9% YTD 2022.
- Rice cakes, with a 29% YTD sales jump, lead the snacking surge, followed by Multipack Snack (23%), and berries (18%).
What are shoppers munching on — and why?
- Fruit (70%), and potato chips (62%) lead the pack.
- 59% say “satisfying a craving” draws them to snacking.
- 74% say “taste and flavor” is more important than curbing their appetite (46%) or getting more protein (26%).