A recent research report from Mintel suggested that consumers are predicting over half a decade of austerity and that the “feel-good” factor is failing to make a comeback.
Mintel says that 42% of British consumers think that it will take longer than two years for the feel-good factor to return and a further 22% believe that it will take between one and two years.
Doom and gloom then? But from a confectionery perspective, this might be a good thing actually. Confectionery has proven to be pretty much recession proof, becoming a much loved “cheap treat” when a meal out or a new car is out of the question. Sales of sweets and chocolates have received a boost due to their low cost “pick-me-up” ability.
Some have suggested that sales might ease when the economy starts to improve and people have more ready cash to treat themselves. Following that line of thought, half a decade of austerity might just be a good thing for confectionery retailers?
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