27 Oct Blog: Luxury Candy Products can Create Loyal Shoppers
During the recession, SymphonyIRI noted a dichotomy existed in the types of products many shoppers purchased. There was, of course, a spike in the purchase of lower-priced, value-based products, but also a spike in the purchase of luxury products. Chocolate was among these luxury products. In previous reports, SymphonyIRI noted this dichotomy resulted from shoppers either suffering frugal fatigue, attempting to maintain normalcy at home by continuing to purchase premium products either from where they had traditionally purchased them or switching to a lower-cost channel as part of a keeping up appearances strategy.
That loyalty continues today, with 68 percent of respondents stating they are loyal to or always purchase the same brand(s). Chocolate, along with salty snacks and crackers, was rated among the most affordable and essential items by shoppers.
Look for more on this topic in Thom Blischok’s full length article in Candy Industry Magazine, which is running in mid-August.