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Halloween Candy Prices Surge by 13% This Season
October 30, 2023
The price of Halloween candy has seen a sharp increase of 13% this year, leaving both consumers and retailers grappling with rising costs. A confluence of factors, from supply chain challenges to increased demand, is driving this surge, as reported by various sources.
According to a survey from research firm Datasembly, the price of Halloween candy has seen a significant uptick in 2023, with prices for candy and gum on average increasing by 12.8% this year compared to only 6.7% for the entire grocery category. Chocolate prices also increased by 11.8% between October 2022 and October 2023. The rising costs have left some saying that “the price of candy has gotten to be outrageous,” as reported by Fox 8.
The surge in candy prices can be attributed to several key factors. A combination of supply chain disruptions, higher ingredient and packaging costs, and increased consumer demand have all played a role in driving up candy prices this Halloween season. As the Montreal Gazette points out, these challenges have led to what some are calling a “trick” on consumers as they prepare for their Halloween “treats.”
This is the second year in a row that candy inflation rates are reaching double-digits for Halloween, after rising 19.9% last year. Some states have even higher increase rates this year than others, with the Northeast showing the highest numbers. “Vermont, Maine and Pennsylvania are seeing price increases 14.7%, 14.2% and 14.1%, respectively,” per Datasembly’s findings. In comparison, “states like Alaska, Michigan and Ohio are experiencing lower candy price increases of 7.1%, 7.5% and 8.1% respectively.”
Retailers are facing the dilemma of passing on these increased costs to consumers or absorbing them, potentially affecting their profit margins. However, many retailers are opting to diversify their candy offerings to include various price points, ensuring they cater to customers with different budgets. For example, the New York Post reported that Walmart discounted some of its assorted variety packs just a day before Halloween, though they’re only available for shipping and won’t arrive in time for the holiday.
As Halloween approaches, consumers and retailers alike are dealing with the reality of higher candy prices, emphasizing the importance of adaptability in an ever-changing retail landscape.
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