“Today I can”: Indulgences in the countryside and chocolate are on the rise, despite being more expensive
Data from Scanntech, a leading provider of information to food retailers, shows that the chocolate segment has strong potential to move towards premium products. Wine, for example, currently has 38% of products on premium shelves, followed by beer (27%) and coffee (19%). However, premium chocolate only represents 10% of products offered, signaling a window of opportunity for brands.
Looking at low-, mid-, and high-priced chocolates, the company notes that low-priced items have seen a decline in sales share in 2024, while mid-priced items have gained importance. And since July 7 is Chocolate Day, the day we celebrate our good chocolate, let’s see how indulgence is faring in retail.
One of the most consumed products in the world
Anyone who never stops opting for a square to sweeten their day is certainly aware that the price of cocoa has reached its all-time high in 2024 due to the decline in production in the West African region.
In January 2024, the price of cocoa on the New York Stock Exchange had increased by 83% compared to January 2023. This increase boosted the price of chocolate, which increased significantly in 2023, strongly impacting sales. Despite the increase in prices, there was a slight increase in sales in quantity in 2023 of +0.6%. In 2024, sales in quantity fell to -5.5%.
Compared to the IPCA, chocolate prices continued to rise significantly. In 2023, the general IPCA was 4.62%, while food for domestic consumption had a deflation of -0.52%. In the analysis of the year 2024 in relation to 2023, the general IPCA was 2.27%, with food for domestic consumption having an inflation of 5.1%.
Medium-priced chocolate (between 49 and 93 reais per kilo) accounted for 63.6% of sales in terms of turnover, followed by low-priced chocolate (under 49 reais per kilo) and premium products, which reached 17.8% (over 93 reais per kilo). The largest price increase in 2024 was observed in low-priced chocolates, with a change of +8%, followed by medium-priced chocolates, which had a change of 6.3%. Expensive products, even less represented in food retail, increased by 1.6%.
On average, the price of chocolate on Brazilian shelves increased by 8.4%. Within São Paulo, for example, the price increased by 10.0%. In the metropolitan region, the price increase was 9.3%. Minas Gerais, Espírito Santo and Rio de Janeiro recorded an increase of 9.8%. Other regions such as the South, Northeast, Center-West and North also followed this trend.
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Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
