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Candy Sales Up As Anxious New Yorkers Escape to Candy Land
By
John Del Signore
Published Mar 24, 2009
Modified Mar 24, 2009
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By
John Del Signore
Published Mar 24, 2009
Modified Mar 24, 2009
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More Americans are coping with the economy's crash by chasing a sugar high, if sales data on mass-produced proletariat candies are to be believed. Up until the fourth quarter of last year, sales of candies like Hershey Kisses, Gummy Bears, and Jelly Bellies were losing out to fancy, high-end brands; now, according to Edgar Roesch, a food analyst with Soleil Securities, that trend has been reversed. Cadbury reported a 30% rise in profits for 2008, and Nestle’s profits grew by 10.9%. At Economy Candy on the Lower East Side, owner Jerry Cohen has had to increase his orders by 10%. Of course, there's always a down side to the sugar high. Liz Josefsberg, who runs Weight Watchers meetings in Manhattan, tells the Times candy talk has dominated recent meetings: "I’m hearing a lot about Skittles and Mary Janes." (Though if Mary Jane's your problem, you're probably in the wrong meeting.) And there may be a historical precedent for the current candy renaissance; it's worth noting that Snickers, Tootsie Pops, Mars bars with almonds, and Three Musketeers were all introduced during the Great Depression. Photo courtesy New York Daily Photo
Tagged
economy candy
recession
sales
sugar
John Del Signore
Originally from the Albany area, John Del Signore has called NYC home since 1995. In addition to his thousands of meticulously-crafted bespoke blog posts for Gothamist, his writing has also been published in The Awl, Deadspin, The Nervous Breakdown, and performed at The Brick Theater in Brooklyn.
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Gothamist is funded by sponsors and member donations
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