The value of Halloween candy within the US has soared a frightful 13% since October 2022 — greater than double the 6% increase across grocery prices generally, in keeping with a survey.
Through the past yr, the worth of chocolate alone has increased roughly 12%, research firm Datasemby found after collecting sales information from over 150,000 stores across 30,000 zip codes representing 200-plus retail banners.
So-called candy-flation rates — which aree hitting double-digits for Halloween for the second yr straight — are even higher in some states, especially within the Northeast.
Consumers in Vermont, Maine and Pennsylvania can prepare to be spooked by candy prices up 14.7%, 14.2% and 14.1%, respectively, from last Halloween, per Datasembly’s findings, which were earlier reported on by CNBC.
States with the smallest price increases: Alaska, Michigan and Ohio, where a bag of candy will cost just 7.1%, 7.5% and eight.1% more, respectively.
On Monday, just at some point before Halloween, Walmart has discounted some of its assorted variety packs, corresponding to one with 365 pieces of mini-sized M&M’s, Twix and Snickers that’s on sale from $23.99 — down from a staggering $52.99.
The catch is that it’s only available for shipping, and won’t arrive at the doorstep until Nov. 2 — well after the trick-or-treaters do.
The same assortment with 375 pieces isn’t on sale, and can run customers a whopping $49.98, while a smaller bag of 250 pieces with the identical candies is $26.88.
That very same 250-piece bag of mini Mars confections is $27.99 at Goal, in keeping with the retailer’s website.
For full-sized candy bars, an 18-piece variety pack of Snickers, Twix, 3 Musketeers and Milky Way goes for $16.99 at Goal.
Consider it or not, the 13% price increases seen when strolling down the sweets aisle is a slowdown from candy’s 20% national increase experienced from October 2021 to October 2022, Datasembly reported.
Because of this, about one-third of US consumers plan to purchase value or store-brand candies from the likes of Walmart, Costco and Goal for trick-or-treaters this yr, in keeping with consumer insights platform Numerator, which surveyed 4,500 adults about their Halloween plans.
Some 30% of shoppers said they expect to spend between $26 and $50 on Halloween-related items, including candy and décor, while just 18% plan to spend upwards of $100, Numerator found.
Hershey — which has raised its prices by not less than 7% in each of the last seven quarters, CNBC reported — reported its third-quarter earnings last week, and attributed the worth hikes to waning demand.
Hershey’s North American confectionary sales volumes fell 1% within the three-month period ended Oct. 1, though the worth hikes “offset volume declines related to cost elasticity,” the corporate said.
Hershey’s North America Confectionery segment netted $2.5 billion within the period.
“We all know that value and affordability proceed to be top of mind for consumers as budgets are stretched, some less government assistance, the restart of student loan repayments, higher rates of interest,” Hershey CEO Michele Buck said on a Thursday conference call with investors.