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Chocolate, the treat we can't do without: Sales stay at same level despite recessionMarket research firm Mintel believes that low cost treats will help fuel consumer spendingChocolate is recession proof because we turn to it as a treat
Daily Mail Reporter
23:41 GMT, 14 January 2013
02:47 GMT, 15 January 2013
We may be cutting back in all sorts of ways to survive the economic downturn but it seems there is one thing we can’t do without – chocolate.
Sales have held up throughout the hard times of the last few years and will continue to do so in coming years, experts say.
Peter Ayton, of market research firm Mintel, said low-cost treats such as chocolate and snack foods would help fuel consumer spending.
Essential treat: Chocolate is the treat we can't live without as sales remain steady despite the recession
He added: ‘Chocolate confectionery fits the bill exactly.’
It is thought to be recession-resistant because whatever the economic environment consumers turn to it as a reward or a treat.
Product innovation is another factor as chocolate manufacturers are constantly bringing out something new to tempt customers.
Around 500 new chocolate products are launched in the UK each year.
Yummy: Market research firm Mintel say that our love of all things chocolate will help fuel consumer spending
The Economist Intelligence Unit and Mintel said in a report on consumer spending that generally people had traded down to own-brand goods, but they detected signs of ‘recession fatigue’.
The beauty product market remained strong, the sale of good quality clothes should increase.
According to the report, the tobacco market will be robust, the two groups estimated.
But sales of alcohol will be ‘relatively flat’ amid a fall in the number of drinkers.