What factors drive your buying snacks and candy

The snack and candy categories survived several years of uncertainty and change and continue to experience the negative impact of the coronavirus epidemic through changing consumer requirements and preferences, as well as economic pressures. Industry experts gathered at the annual National Confectioners Association’s Sweets & Snacks Expo this week to talk about these crucial problems. Experts provided insights and solutions for retailers and brands who are struggling with the best way to tackle these buying trends.

What happens to snacks and candy in the event that consumers cut their expenses?

Although inflation has had a major impact across many sectors, the food retail industry has been particularly affected. However, sweets and other snacks can be a great source of revenue for the industry. Anne-Marie Roerink, President of 210 Analytics, shared vital information and statistics about the the current consumer of candy and ways to grab their interest.

The cost of food increases, almost “everything is on the table right now” when consumers are trying to cut the cost of their purchases, according to Roerink. However, sweets and other snacks remain viewed by consumers as affordable and acceptable snacks to buy during grocery shopping, she added. While snacks and candy have been subject to inflation however, no category is in the clear from. Roerink said that products within the $2-$3 range are among the most successful, and buy-one-get-one discounts are also beginning to be popular with candy and snack buyers.

Kathy Risch, senior vice for shopper insight and thought leadership at Acosta Group, echoed Roerink’s opinions that people are seeking out occasional indulgence meals to indulge in during tough times.

“Dessert, candy, snacks and ice cream–these categories are very relevant,” she stated. “People will splurge on items while cutting back on others.”

Another reason that people are purchasing snacks and candy is to celebrate According to Roerink. After years of avoiding or postponing gatherings in person, such events as birthdays, holidays, and weddings are occasions to purchase food items and indulge in a little spending.

Celebrations are social by nature and allow for sharing moments. Candy and snacks provide these opportunities because of the distinct qualities of these categories to result in “very deeply rooted emotional connections,” Roerink said.

However, Sally Lyons Wyatt, executive vice president and practice manager of Circana Also, she cautioned companies against relying too much on price hikes and assuming consumers to purchase snack items at the same price.

“We are definitely in inelastic categories in snacking, but there may be a point where we go too far,” she added. It is better to suggest that companies put their energy into the segments of the snacking market that have been strong this year: multipacks including tortilla chips, non-chocolate candy.

Innovative products attract customers

Another method CPG brands, particularly candy brands, are tackling inflation’s potential impact and keeping consumers loyal is through innovation in their products. People are particularly interested in new products and services from established companies, which are shared by Andrew Clarke and Anton Vincent Mars Wrigley’s global President as well as North American President, respectively.

“We are seeing consumers vote with their wallets,” Clarke said. Clarke.

He and Vincent said that some of the products consumers are most interested in currently are better-for-you foods and that’s one reason Mars purchased Tru Fru, and Kind. These brands can help fill gaps in the portfolio, according to Clarke.

“The No. one word that rises up the list is ‘fun to be having fun ” added Roerink. She said that between 6 and 7% of sales in candy are due to the latest technology, compared to just 2% of food sales.

Gen Z and millennial Gen Z shoppers are especially looking for new offerings, she noted. Risch added regarding millennials since Gen Z shoppers are “big snackers.”

Sweets & Snacks has always been a fan of innovation, as evidenced by the introduction in the annual Most Innovative New Product Awards and the showcase of the latest products in the Featured Products Showcase. The industry is continuing to innovate new products to meet consumers’ requirements amid the pressure of inflation, so consumers will be more prone to purchase candy and snacks.