Hershey warns rising living costs may spook Halloween shoppers
Hershey on Thursday warned that increased pressure on shoppers due to high inflation and interest rates could impact how much consumers spend on candy this Halloween. U.S. consumer sentiment hovered near record lows in October as Americans head into the holiday season with their budgets under strain from high gas prices as a fallout of the U.S. war in Iran. Hershey lowered its annual organic net…
Hershey, the confectionery giant, has cautioned that soaring living expenses due to inflation and rising interest rates may deter consumers from splurging on Halloween treats. The U.S. consumer sentiment plunged to near record lows in October as Americans entered the holiday season with tight budgets, weighed down by soaring gas prices stemming from the U.S. war in Iran.
In response, Hershey has reduced its annual organic net sales growth forecast to around 3 percent, citing challenges in key sales channels such as convenience stores, where budget-conscious shoppers are grappling with higher fuel costs. The company was relying on last-minute purchases of bulk candy packs ahead of Halloween on Saturday, October 31, during a post-earnings call.
Hershey CEO Kirk Tanner emphasized the critical importance of consumer engagement in the last few days, stating, "Now we need consumers to show up, we need them. The last few days are really critical." A 51.03-ounce pack of Hershey assorted Halloween candy containing 165 pieces was priced at approximately $23.87 on Walmart's website as of Thursday morning.
Despite the economic headwinds, Halloween participation is anticipated to remain similar to 2025 levels; however, financial constraints could influence final purchasing choices, according to Hershey executives.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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