Company officials noted that as the number of illnesses increases, so makes the demand for sweets of all kinds.
According to the CEO of Hershey, sales of chocolate and candy have been increasing since the beginning of the pandemic, as people trapped in their homes were looking for any, even the smallest reason to rejoice. It is noted that chocolate sales were 40-50% higher in regions with higher Covid-19 cases than in areas with lower levels.
Similar trends were observed in sales of s'mores, a traditional American dessert made of fire-roasted marshmallows, and a bar of chocolate sandwiched between two crackers. Hershey noted that in regions with high disease levels, sales of the ingredients in question increased dramatically. People locked in their homes to entertain themselves were far more likely than usual to have backyard barbecues.
Previously, sales of sweets have been seasonal but are now directly affected by the coronavirus pandemic. Hershey notes that by tracking disease levels across the country, it's possible to make predictions about restocking and advertising campaigns.
And this strategy has worked. The other day, Hershey released results for its fiscal fourth quarter, reporting sales growth of 5.7% to $2.19 billion. In comparison, net income rose 41% to $291.4 million.
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