According to the Small Business Administration, the second leading cause of business failure is insufficient or delayed financial support. In many cases, this is brought about by a poor business credit score. If you are unaware, a business' credit score is similar to a personal credit score. A person's credit can be improved by paying loans on time and avoiding any reoccurring debt. Business credit is almost exactly the same with minor differences. In today's blog, we will discuss the...
Candy Craze: Understanding Current Trends
Candy dollar sales are predicted to grow 1.8 percent in 2017. Take advantage of this growth by learning the current trends that customers will want to buy from your c-store.
A recent health trend has struck the snack and candy market. Consumers are wanting more options that will adhere to their specific dietary needs. Whether it is a product with natural antioxidants, less sugar, or organic, consider having alternatives to the classic options. One of the most popular substitute options is Justin's Organic Chocolate Peanut Butter cups. These treats are USDA organic and available in three delicious flavors: milk chocolate, white chocolate, and dark chocolate.
In regards to chocolate, Psychologists state that people find comfort in candy, especially chocolate in tough times. Use this to your advantage by offering some of the most recent chocolate trends. King sizes and shareable candy options are relatively new and are becoming some of the most sought after candy products in the convenience industry. Customers are drawn to promo's like BP's 2 for $2.22 deal because they believe that they are getting more bang for their buck. You should also be selecting power brands such as Snickers, Reese, M&M's, and Hersey Bars that are classic high sellers.
Other types of candy that are also seeing an increase. Non-chocolate candies are predicted to have an increase of 4.5 percent in dollar sales, while mints should also be increasing 1.2 percent in dollar sales. Some fun trending options include:
Candy with toys; sweet candy items with toys incorporated in them are likely to be picked up by children or parents who are looking for a fun special treat.
Bagged candy; representing 17.4% of all candy sales this category has shown continuous growth up 9% in Convenience Stores during 2010. This draws in customers looking for value.
Sour products; the more fun the product the better it will sell. Sour candy items come in a variety of sizes, brands, and concepts.
Cartoon incorporated; kids love seeing their favorite movie or television characters on candy items. Use children's impulsive nature by stocking limited time or current character candies.
Increasing Candy Sales
With all of the recent candy trends, there are a few things you can do to help amplify your sales. First, you can encourage impulse candy purchases by strategically placing displays to follow traffic patterns. With the newest innovations of candy, like last years Reese's Peanut Butter Cup filled with Reese's Pieces, you will want to have signage of the new items for the displays. It is also helpful to mix your merchandise in order to promote variety, which works best by the registers. Use multiple price points in order to drive sales and do not be afraid of using promotions. Customers are more likely to buy candy if it is 'Buy 1 Get 1' or something similar.
There are new candy trends and innovations each year. Keeping up with what is currently selling and what customers want will help drive candy sales making you more money. Be open to different types of products and make 2017 your best year for candy profits.