Halloween candy sales were expected to reach $5 billion, an increase in spite of the sour economy. The holiday is the number one holiday for candy sales.
For the biggest sugar rush of the year, Halloween candy sales were expected to grow 1.8 percent compared to last year according to the National Confectioners Association.
Landing on a Saturday, sales in the final week were expected to reach $2.23 billion in candy sales. That's the equivalent of 600 million pounds of every confection imaginable for the nine out of 10 kids who rang doorbells Saturday night.
A reported seven of 10 households distributed candy, spending an average of $18-per-household according to the National Retail Federation. Although industry analysts say increases in commodity prices, such as sugar, translated to more costs for consumers, they didn't see anything scary enough to dampen purchasing.
Unlike other products, candy sales have not experienced a lot of consumer downtrading to less expensive brands, said an analyst with Morningstar who tracks Hershey. Still, Hershey, which owns 42 percent of the domestic chocolate market, is reporting flat sales and has also rolled out higher prices, which could cool sales.
Candy manufacturers aggressively target Halloween with special packaging. This year for instance, Hershey's bundled three Halloween-colored Kisses in single packages for handing out, said a spokeswoman for the chocolate maker.
The Fairfield-based Jelly Belly Candy Co. churned out Halloween-themed candy, such as candy corn and pumpkins and jelly beans in autumn colors. Sales were up 5 percent for Halloween. But even a 1-ounce package of Jelly Belly candy is 80 cents, too costly for a mass giveaway.
Written by Jesse Slome
Los Angeles, CA
Exclusive to HULIQ.com
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