Candy Manufacturers/Retailers Face Sweet Market
History repeats itself – especially when it comes to the candy industry. A recent New York Times article notes that many of today’s favorite names in candy – Mars, Tootsie Pops, and Snickers – got their start during the Great Depression. The article also points out that candy companies, especially those that sell mass-market treats, have noticed a big increase in sales during the past year. The overall industry, excluding Wal-Mart, reported a 1.7% increase in revenues between 2007 and 2008. Industry watchers speculate that consumers who are out of work or feeling pressured financially still want to reward themselves. While an expensive latte or a custom high-end chocolate is out of reach, nearly everyone can afford small sweet treats.
Some candy manufacturers are promoting the health benefits of dark chocolate while others are marketing the improvements they’ve made to their sugar-free products. Are there candy manufacturers or retailers in your market that could improve sales with the new marketing strategies you can bring to them?[Source: Haughney, Christine. When Economy Sours, Tootsie Rolls Sooth Souls, New York Times, 3.24.09; National Confectioners Association]