photo credit: woodleywonderworks
Here at Pinnacle, custom candy is a consistently popular product category season after season, and it is no surprise that businesses are trusting branded sweets to effectively target their end users.
This year is shaping up to be the best year for the sweets industry in at least a decade- from January through May, confectionery sales were up 4.3% over the same period last year, according to the National Confectioners Association. Smartmoney.com took a deeper look into the candy industry in the article, “10 Things Candy Makers Won’t Tell You,” and you may be shocked by some of the author’s revelations.
A few highlights from the article include:
1) Although 30 states now have taxes on candy that run to 7% in support of public health initiatives related to obesity, taxes do not appear to be high enough. Research conducted by the U.S. Department of Agriculture estimates that increasing candy prices by 10% should decrease consumption by 12.6%.
2) “Low calorie” treats are oftentimes just smaller portions of the same high-calorie candies. Smart candy companies are well aware of consumers’ willingness to pay more for what they perceive to be healthier food items, so health-conscious candy buyers may wind up paying significantly more for less candy.
3) Ever feel like you are the only one unable to resist the chocolate bars and sweets in grocery store checkout lanes? You are not alone! Candy companies actually pay a premium to display their products near checkout registers, which is considered to be valuable real estate. Research by professors at the University of Arizona and George Mason University found that waiting in line for five minutes instead of four increased the probability of making a purchase, usually candy, by approximately 17%.
Help your customers and/or employees resist the temptation to buy decadent treats in the checkout line by providing them with small packages of complimentary custom candy– their wallets and waistlines will thank you, and your company will reap the benefits of increased brand loyalty!