We may only be a month or two past Christmas 2020, but the companies behind your favorite foods are already looking forward to the next holiday season. And while no doubt they are dreaming up all sorts of adorable chocolate Santas and caramel snowflakes, they're also figuring out what such things will cost.
In a recent interview with Bloomberg, Hershey's CEO Michele Buck said that the company plans to raise prices on mini chocolate bars, Kisses, and seasonal shapes for the 2021 holiday season. This is the first time these treats have seen an increase since 2014. Buck did not elaborate on how much the price hike might be but said it was likely to show up in the prices at your local store.
“Historically, retailers do pass it along,” she told the publication.
In addition to this news, Hershey's also made headlines recently for explaining a strange phenomenon during the pandemic: As COVID-19 cases went up in certain areas, the company saw an increase in demand for s'mores ingredients in those areas.
“This past year, we noticed that wherever Covid case counts were elevated, we were seeing increased sales of s’mores ingredients and then we were able to use the case count trajectory as a foreshadow of where we should focus some of those efforts and build displays and put media in those markets,” Buck told CNBC.
It makes sense when you think about it. If you're trying to be safer and keep your hangouts outdoors, it's definitely a good occasion for s'mores. According to CNBC, the candy company said it has also seen an increase in demand for things like seasonal candies, as people are stuck inside and looking for ways to make smaller celebrations more meaningful.
