New data from the National Confectioners Association (NCA) has revealed sales of chocolate and candy in United States have increased during the coronavirus pandemic no doubt as folks looks to have at least a brief respite from things. This speaks to the heart of Tematica’s Guilty Pleasures investing theme while the NCA’s findings solidify the Thematic Leader Status for The Hershey Company (HSY) for that theme.
Overall sales of chocolate and candy have increased 3.8% with chocolate (+5.5%) and premium chocolate (+12.5%) outpacing the rest of the category, NCA data reveals, based on its analysis of sales performance from March 15, 2020 to August 9, 2020.
The grocery channel has become a key driver for chocolate and candy sales growth as consumer behaviors continue to evolve during the pandemic and more people shop at grocery stores. In the grocery channel alone, chocolate and candy sales are up 16.6% with chocolate (+17.9%), premium chocolate (+21.4%) and non-chocolate (+13.5%) all performing very well.