People now buy less chocolate than before and there is a reason
Chocolate is no longer in fashion, and its consumption has decreased compared to recent years.
Chocolate is one of the most consumed foods in the world, and yet it increased its sales quite a bit during the worst times of the pandemic, but now it seems that people are buying less chocolate than ever, and there is a reason (monetary), about it.
And it is that according to data from the main chocolate production companies in the world, both consumers in the United States and Europe they’re buying less chocolate than before, and it’s basically because of rising prices.
It is said that in the last stages of the pandemic, chocolate sales soared along with other consumer products, and this was basically because many buyers received government aid while continuing to maintain the habit of staying at home, which increased sales. .
But now everything has changed, and it is that buyers not only buy less chocolate than before, but right now they choose individual chocolate bars instead of buying large quantities chocolate as before.
Specifically, in the United States, the volume of sales of chocolate products decreased by 1.5% compared to the previous year until June 12, and basically it is because prices shot up by 8.2%, according to Reuters, via new york post.
“We are going to see that chocolate becomes more price sensitive. Consumers will have a treat, but it will be smaller treats, like a small gift. That’s why you’re seeing a decline in chocolate sales volume”, he points out Daniel Sadlerdirector of IRI.
However chocolate makers expected cocoa demand to grow 2.5% this year, but are now seeing just 1% growth, which could be followed by zero growth next year if inflation persists.