The candy business isn't as sweet as it used to be. Changing diet trends have forced Americans to reevaluate how they think about sweets. In January, Nestle announced plans to sell its US confectionery business for $2.8 billion, a move that experts ...and more »
Mars dismisses candy health problem - BI
Snickers and Mars chocolate bars.REUTERS/Dado RuvicMars Wrigley Confectionary — the maker of M&M and Snickers — says that candy has a bright future in the US.
Customers' desires to "hashtag treat yourself" is boosting a new type of sales, according to a top exec.
The rise of social media and gifting opportunities is also creating opportunities.
The candy business isn't as sweet as it used to be.
Changing diet trends have forced Americans to reevaluate how they think about sweets. In January, Nestle announced plans to sell its US confectionery business for $2.8 billion, a move that experts said was prompted in part by increasing competition from upstart candy brands and the rise of healthier snacks.
However, Mars Wrigley Confectionary — the maker of M&M and Snickers — said that a new "Treat Report" on US trends proves that there's no reason to fear for the future. According to the company, it has accounted for roughly four-fifths of the category's 2% annual sales growth over the last few years.
Flickr/Luke Jones"98% of our consumers told us that treating themselves can be part of a healthy lifestyle," Berta De Pablos-Barbier, the president of Mars Wrigley Confectionery US, told Business Insider. "That is exactly in line with what we believe."
She added: "People say, 'Hey, hashtag treat yourself.'"
On Instagram, almost two million people have used the hashtag #treatyourself, in addition to the more than three million people who have used the hashtag #treatyoself.
The phrase, which originated with the NBC sitcom "Parks and Recreation," represents two of the biggest opportunities for Mars in the treat business right now: rewarding yourself and bragging about it on social media.
According to the report, which polled 1,000 Americans using an online survey, 52% of millennials have purchased a treat "because they wanted to share a picture of it on social media." De Pablos-Barbier says that Mars Wrigley is doubling down on making packaging "prettier," both for social media and for gifting — another major area of growth in the candy business.
Roughly two-thirds of respondents said that sweet treats are a go-to gift, making it even more important for Mars Wrigley to package things in a way that is visually appealing.
"Gifting is on the high, sharing is on the high," De Pablos-Barbier said. "74% believe a treat is always sweeter when shared with a friend."
Powered By Sailthru
business casual business business insider business lease business english business model canvas business formal business class business card mockup business plan