When the world goes into an economic downturn, it turns to chocolate. According to a report from London market research firm Mintel, chocolate sales rose in several countries, especially in China (18 percent) and the Ukraine (12 percent), as well as a more modest 2.6 percent in the U.S.
From a Mintel press release:
Other countries have also seen chocolate bars, bags and boxes flying off the shelves, albeit at lower rates. Brits drove their chocolate market up 5.9% this year, while Americans purchased 2.6% more chocolate than in 2008. Argentinean sales rose 1.8% from 2008, while in Belgium, a country that claims to produce some of the world’s best chocolate, sales increased by 3.2%.
“It’s clear that despite economic trouble this year, the world’s chocolate lovers didn’t deviate from their favorite treat. 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,” comments Marcia Mogelonsky, global food and drink analyst at Mintel.
Makes sense because layoffs and furloughs give you less to distract you from the temptation of Hershey bars.
Have you purchased more of anything since the economy went sour?
Chocoholics unite as chocolate sales worldwide defy recession [Mintel]