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Higher prices put a fright into Halloween candy sales
USA Today • • business
Key Points:
- Halloween candy sales have declined 6.7% compared to last year, impacted by rising living costs and higher chocolate prices, with small candy bags being the only segment showing sales growth.
- Candy and gum prices have surged 44% over five years, driven by record-high cocoa prices due to poor weather in West Africa, supply disruptions, and speculative trading.
- Consumers are adjusting spending habits by buying smaller quantities, shopping closer to Halloween, and seeking discounts or coupons to manage higher costs.
- Despite weaker candy sales, the National Retail Federation projects Halloween candy spending to reach $4.1 billion and overall Halloween spending to increase to $13.5 billion this year.
- Industry experts remain cautiously optimistic, noting strong consumer enthusiasm for Halloween, though candy sales may continue to face softness.
