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Insight of the Day: Driving confectionery sales through promos, micro-occasions, catchy displays

Based on the article "Driving confectionery sales through promos, micro-occasions, catchy displays" by Deniz Ataman, here are some key points:

1. Despite higher prices due to inflation, consumers continue to purchase sweet treats as rewards and for celebrations.

2. According to the National Confectioners Association's State of Treating report, confectionery sales reached $48 billion in 2023 and have the potential to reach $61 billion by 2028.

3. The highest dollar growth segments within the confectionery category were chocolate ($25.9 billion), non-chocolate candy ($19.2 billion), and gum ($3.7 billion).

4. In the retail sector, it is suggested to place confections front and center both online and in-store. Emphasis should be placed on endcaps, secondary displays, and eye-catching, engaging displays to attract customers.

5. Price and brand loyalty are important factors influencing consumers' purchasing decisions. Gifting, brand extensions, and innovations can help drive brand loyalty in retail.

6. Sales promotions, such as buy-one-get-one and variety packs, continue to attract consumers who are looking for deals. Offering a range of price points can help drive sales in retail.

7. Consumers view sweet treats as contributing to a balanced lifestyle, and there is a belief in the interconnectedness between physical and emotional health. Highlighting portion size variety, nutrition information, and treating recommendations on packaging, digital assets, and in-store displays can appeal to consumers.

8. Holidays, such as Valentine's Day, Easter, Halloween, and winter holidays, account for a significant portion of confectionery sales. Brands are encouraged to capitalize on micro-occasions between these major holidays, such as Father's Day, Mother's Day, graduations, and National Candy Month in June.

9. The US confectionery market is projected to experience growth in the coming years, with an additional $12.2 billion (including the impact of inflation) between 2024 and 2028. Chocolate and non-chocolate candy are expected to continue their growth.

10. Consumers have a strong emotional connection to chocolate and candy, and they seek out these treats to enhance holiday seasons, family celebrations, and personal indulgence moments.

It's important to note that the content of the article may provide further insights and details regarding the strategies and data mentioned above.

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