SINGAPORE | Boxed assortments and pouches have been expected to be the top sellers this Christmas as consumers become more selective with purchases.
According to Euromonitor’s Voice of the Consumer: Lifestyle Survey 2024, more than one in three consumers globally would rather spend money than save it this year, the highest tracked intention to spend money since 2015.
The holiday season has been critical for boxed assortments, and global sales have been projected to reach USD 23.9 billion in 2024, reflecting a 6.5 percent increase compared to last year.
In Australia, chocolate pouches and bags drove sales growth in holiday chocolate shopping, with sales expected to reach USD 228 million, a 6 percent increase compared to 2023.
While inflation has contributed to the category's value growth, new product development has significantly boosted sales.
“We’re seeing the industry's efforts to streamline innovation pipelines, and this is leading to new snack product launches that focus on format, shape and flavour,” said Carl Quash III, head of snacks and nutrition at Euromonitor International.
“Consumers are still doing more research prior to a purchase, channel swapping and price shopping for the best deals.”
Sales growth of chocolate boxed assortments in New Zealand has been expected to reach USD 67.3 million in 2024, a four percent increase from 2023.
“The surge is driven by limited-time holiday offerings, such as chocolate advent calendars, which have gained popularity and are accessible across audiences with the availability of both premium and affordable alternatives,” said Miri Eliyahu, snacks research consultant at Euromonitor International.
For more information, see Euromonitor’s Food and Nutrition insights page
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