Easter Chocolate Sales Are A Sweet Financial Boost For UK Retailers

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Manchester-based financial solutions company Baines & Ernst explore the cost of celebrations in their recently published Infographic and reveal the positive impact chocolate sales have on the UK economy during Easter.

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Baines & Ernst

At a time when many high street stores are struggling to survive in a tough economic climate, these occasions can give businesses a much needed boost to their finances.

As Easter rolls around again, you could be forgiven for thinking the occasion is small fry for UK retailers in comparison to other celebrations such as Valentine’s Day and Mother’s Day.

The truth, however, is something quite different – and it has a great deal to do with sweet-toothed Brits desperate to indulge in the silky, melt-in-the-mouth goodness of chocolate that has become synonymous with Easter celebrations.

According to the World Atlas of Chocolate, Britain is a nation of chocolate lovers, with each person in the UK consuming 10.2kg worth of the stuff every year.

Although budgets are tighter and luxury spending reduced, it seems the nation’s love affair with chocolate remains as strong as ever, as Mintel reported that the UK market is currently worth an estimated £4 billion – and set to rise to £5.25 billion.

So how does Easter feature in the marketplace? Well, as shown in the Baines & Ernst Infographic, Cost of Celebrations, Easter accounts for 10% of chocolate sales for the whole year with an astonishing 90 million chocolate eggs being sold.

“Celebrations such as Easter, Valentine’s and Mother’s Day are big money spinners for UK retailers. And at a time when many high street stores are struggling to survive in a tough economic climate, these occasions can give businesses a much needed boost to their finances.” says Baines & Ernst Director of External Affairs, Nick Pearson.

There’s no doubt that such occasions are important to retailers – all it takes is a short stroll through any high street store or supermarket to see that consumers are bombarded with highly focused marketing campaigns throughout the year.

For the chocolate industry, Easter is a key time in their marketing calendar as they can use this time to promote a plethora of products to a nation whose eyes are firmly fixed on chocolate treats. In fact, Mintel reported that there was a 45% increase in new products introduced to stores during Easter 2012.

And it’s easy to understand why when compared to other celebrations where chocolate is favoured as an ideal gift.

The Baines & Ernst Infographic listed two of these popular occasions as Mother’s Day – accounting for £60 million worth of sales – and Valentine’s Day which raked in £95 million. Both are substantial in terms of sales, but they fail in comparison to Easter, where sales equate to an estimated £500 million, according to Mintel.

“It’s easy for consumers to feel pressurised by in-store promotions. In many respects, consumers can feel guilty if they don’t buy expensive gifts or fail to indulge in the festivities as much as retailers would like them to.” says Nick Pearson.

The Infographic also states that during Easter, the average child receives 8.8 Easter eggs – with 19% admitting to making themselves ill over the holidays by eating too many chocolate treats, so is all the chocolate spending worth it?

“Easter is one of the only celebrations, other than Christmas, where we get to indulge and enjoy time with the family – but a little moderation doesn’t hurt. If you know relatives are trying to live more frugally on a budget, perhaps tell them not to worry about buying eggs for your children and save their money. Alternatively, if you don’t like the idea of your kids having an endless supply of chocolate, why not ask those who might be about to buy a chocolate egg to make a small donation into your child’s savings account? That way, they still get to acknowledge the occasion in a way that will benefit them in the future.” adds Nick Pearson.

However the nation chooses to celebrate this year, one thing is for certain and that is that retailers will be enjoying some very sweet profits this spring.

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