Lean into Luxury to Boost Chocolate Sales

Increases in pricing from everything from lumber to eggs have consumers looking to trim their grocery spending, and many are turning to store-brand versions of their favorite products. While these products were once considered a downgrade from well-known national brands, they are increasingly seen as comparable in quality and a viable alternative to products that have become too expensive, and they are now the go-to option for many shoppers. It seems that chocolate is the exception.

Very recently, sales of private-label chocolate brands were experiencing growth in Europe. Mintel reported that in 2022, private labels represented almost 30% of volume sales of chocolate confectionery in Germany. While impressive, this was rather low compared to other sweets categories such as ice cream.

What’s going on?

Market research firm Circana says it’s all about luxury. Consumers are looking to indulge without compromise. They seek out premium experiences even though they might buy chocolate less often.

How Can You Adapt?

It seems logical to cut costs to keep prices down or produce “bargain” versions of customer favorites. Current consumer research argues that doing either might have unintended effects. With customers looking to get the most they possibly can out of their food budget, taking a chance on a low-priced version of a favorite treat can seem a bit too risky.

In short, good news! Keep doing what you’re doing, hold steady, and keep making the incredible, high-quality chocolates and candies your customers have come to love.

64% of global consumers actively seek out premium versions of their favorite chocolates.

Barry-Callebaut Proprietary Study

What Defines “Luxury?”

Multiple Textures:
65% of global consumers prefer chocolate confectionery that has multiple textures.
Seasonal & Celebratory:
61% of all consumers seek out limited seasonal and holiday flavors.
Explore the 5 Colors:
The intense flavor of dark chocolate offers consumers a premium experience, while chocolates like Ruby and Gold give customers a chance to try something unique.
People- and Planet-Friendly:
Less of an indulgence and more of a “must-have,” offering products that are sustainably sourced and responsibly produced is a part of any savvy artisan’s business plan.