While almost every other industry is seeing a drop in revenues, the candy industry is bouncing happily along. So says a front page story in the Times today, which finds that candy is not only recession-proof, but also recession-friendly–Cadbury, Hershey’s and Nestle all reported big jumps in profits in 2008. And this is not about twee truffles or 80-percent-cacao, single-origin chocolate bars. People are apparently craving cheap, simple, nostalgic kinds of candy–the kind that reminds you of Halloween, the kind you buy in a big bag and chew on all day.
The owner of (the amazing) Economy Candy on the LES says that he’s increased his orders by 10 percent to keep up.
As for why we’re all craving Tootsie Rolls and Swedish Fish, it’s pretty straightforward, no? Quoth the Times:
Theories vary on exactly why. For many, sugar lifts spirits dragged low
by the languishing economy. For others, candy also provides a nostalgic
reminder of better times. And not insignificantly, it is relatively