Published April 18, 2009

Candy is dandy even in sour times

More Singaporeans seem to be turning to sweets to ease stress from a tough economy

By ZEINAB YUSUF

	Email this article
	Print article
	Feedback

THE mother of all economic crises may be turning some Singaporeans into candy junkies.

SWEET REMEDY As worries about job security rise and pay packets shrink, Singaporeans, particularly adults, are biting into more candy, especially products in the lower and mid-price range costing up to maybe seven dollars a pop

Over the past six months sales of low and mid-priced confectionery have trumped the recession blues.

As worries about job security rise and pay packets shrink, Singaporeans, particularly adults, are biting into more candy, especially products in the lower and mid-price range costing up to maybe seven dollars a pop.

Mainstream retailers like Cold Storage have noticed a significant rise of more than 10 per cent in candy sales over the past six months and expects sales to continue to be favourable.

The phenomenon is not unique to Singapore. A recent report in The New York Times found that Americans are also eating more candy, with a number of big candy makers such as Cadbury, Nestle and Hershey's reporting significant rise in profits.

Sugar gives off energy relatively quickly - hence the 'sugar rush'.

'Even in tough times you still want to indulge and buy something good for yourself as a treat,' explains Esther Loo, executive director of The Cocoa Trees, adding that confectionery items are typically 'not very expensive' and hence easily affordable by most.

The Cocoa Trees, noted for its wide range of chocolates as well as its pick-and-mix counters, has seen a healthy increase in sales of about 8 to 10 per cent in the last few months.

Ms Loo puts some of this down to impulse buying. Her stores have seen increased traffic especially during lunch time, when office workers 'pop by to grab cups of candy which they can probably munch on in the office'.

However, premium chocolate retailers do not seem to have as much luck.

Though chocolate is known to trigger feel-good chemicals in the body, consumers, it seems, would rather get their cocoa fixes from chocolates in supermarkets or mass candy retailers rather than from chocolatiers.

An exclusive chocolate retailer which specialises in premium chocolates has seen business drop by more than 20 per cent in the last couple of months and credits it to a combination of reduced corporate orders as well as decreased consumer traffic. 'Singaporeans are still a little more conservative especially when it comes to buying luxury items,' says the company's spokesperson.

Another exclusive chocolate retailer, Sins Choc Shoppe, has experienced a dip in business of at least 20 per cent compared to last year. Despite enticing customers with attractive promotions during Easter and Valentine's Day, the company's spokesperson admits that most customers are 'just browsing but not really buying'.

The company is reluctant to cut prices as it will 'not do us good when the economy starts picking up, so we will instead try to provide better discounts with more value for customers', says the company spokesperson.

So it seems that eventually the battle does come down to price. While Singaporeans may want to ease the stress from a tough economy with a bag of candy, the cost of their remedy still matters. 'As bad as things get, you will still be willing to part with 10 dollars for candy, if that can make you happy because essentially isn't that what we all want?' says Ms Loo.