With the economy hitting a rough patch, many people are asking about the candy business. The candy business is still strong has has done well in economic downturns. One of the founders of Redstone, Helen Rothstein, often commented that she sold candy bars during the Great Depression. She quipped, "People couldn't afford their mortgage, but they could still spare a nickel for a Hershey bar." Don't worry folks, the year will turn out fine. Gas will go up, but who is going to cut back on an occasional affordable luxury. We aren't asking our customers to spend $10,000 on a luxury vacation, just $10-$20 for some candy.
Not surprisingly, the NCA (confectioner's association) agrees...
- Candy remains an affordable luxury
Candy sales hit $29.1 billion in 2007 and are expected to increase up to 3% this year, said Susan Fussell, spokeswoman for NCA. "Historically during either recessions or economic downturns, people continue to buy candy in part because it's an affordable luxury," she said. Austin American-Statesman (Texas) (free registration) (7/21)
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