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SUNDAY, NOVEMBER 8, 2009
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Chocolate Sales Are Bittersweet

Battle to elevate taste to expensive brands proves bittersweet as economy sours

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(Newser) – Chocolate sales, reputed to be recession-proof, are taking a hit in this downturn as consumers’ taste for more expensive brands has soured, reports the Financial Times. Companies that jumped into premium candies have been hurt by the downturn, and analysts say the market has been “trading down” from premium to private label brands over the past six months.

“For some years, there was significant growth at both ends of the spectrum,” says Patrick de Maeseneire, CEO of the world’s biggest chocolate, Barry Callebaut. He says chocolate sales have also been hit by retailers de-stocking as they try to preserve working capital and trim costs.

A Peruvian farmer dries cacao beans used to make chocolate in Uchiza, Peru.
A Peruvian farmer dries cacao beans used to make chocolate in Uchiza, Peru.   (AP Photo/Martin Mejia)
A bite is taken out of one of Hershey's extra dark assortment of chocolates in North Andover, Mass. Hershey is the nation's largest candy maker.
A bite is taken out of one of Hershey's extra dark assortment of chocolates in North Andover, Mass. Hershey is the nation's largest candy maker.   (AP Photo/Elise Amendola, file)
Linda Jackson, owner of The Chocolate Lady in Mesilla, N.M., dips one of about 1,000 strawberries in freshly made chocolate to sell at her store.
Linda Jackson, owner of The Chocolate Lady in Mesilla, N.M., dips one of about 1,000 strawberries in freshly made chocolate to sell at her store.   (AP Photo/Las Cruces Sun-News, Norm Dettlaff)
Ten pound bars of milk chocolate are shown at Guittard Chocolate Co. in Burlingame, Calif.
Ten pound bars of milk chocolate are shown at Guittard Chocolate Co. in Burlingame, Calif.   (AP Photo/Jeff Chiu)
Hershey's Dagoba Organic Chocolate bars are shown.
Hershey's Dagoba Organic Chocolate bars are shown.   (AP Photo/Hershey's)
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