By Karen Langhauser, Editor-in-Chief, Food Manufacturing
I'm currently house hunting. In the brief few months I've been searching, I have seen everything from shiny new condos to 150-year old Victorians that come without seemingly important amenities such as walls and kitchens, and yet are not short on bonuses like litter box and cigarette odors. What all these properties have in common, however, is that they have dropped their asking prices significantly in the course of just a few months. Bad news for sellers and the economy overall, but excellent news for someone looking to buy a house.
While it might seem unwise to ignore the big picture, there is nothing wrong with taking advantage of all the things a bad economy has to offer.
During a recession, it seems that people are more receptive to new ideas. Perhaps a lack of disposable income has forced them to closely analyze their options, or perhaps they are simply looking for an escape from economic worries.
The candy industry has definitely capitalized on this. Besides the sugar-pick-me-up, traditional candy carries with it a taste of nostalgia – an instant reminder of happy times. While it seems that every other industry is reporting a drop in sales, the confectionary industry is not only stable, but profitable. Candy manufacturers are taking advantage of recessionary bonuses like cheaper, more available retail space as well as consumers' insatiable appetite for sweets.
The industry is making sure that consumers everywhere can capitalize on this inexpensive, accessible luxury.
Candy's sweet success is no secret, and the evidence is all over the news, as we read about how global food giant Kraft is pursuing a billion dollar takeover of Cadbury and how Dubai is now home to a new, 10,000 square foot candy store, being billed as the largest confectioner in the world.
The news is littered with recessionary success stories, and it's uplifting to see that many manufacturers have found a sweet spot in an otherwise sour economy. And while it may not be the best time to put your house on the market, at least you can wait it out with a bag of M&M's.
Do you still treat yourself to candy? Let me know by e-mailing me at [email protected].