If you love your Hershey Kisses, mini chocolate bars, or other seasonal candy shaped like holiday items, plan to pay a little extra in the 2021 holiday season.
Yes, it’s true! First a modified Kisses as announcement of Christmas bells in 2020, maintaining higher prices on said kisses in 2021.
Hershey is banking on higher prices for holiday chocolates later this year, Bloomberg reports. According to an interview with CEO Michele Buck, this will be the first time Hershey has raised prices for holiday items since 2014.
Buck did not specify by how much the prices would be increased, but she said via Bloomberg that consumers will see prices increase in stores and that “historically retailers pass it on”.
Since the start of the coronavirus pandemic, Hershey has seen a drop in sales of chocolate bars. But, Bloomberg reports that other household items saw increased sales in 2020, such as Twizzlers (likely for those nights Netflix, Hulu, Prime Video, HBO Max, Disney Plus, etc.) or Hershey’s Chocolate Chips for products from home bakery.
As for holiday items, they currently counts for about 10% of Hershey’s sales. We’ll have to wait and see how that number will price the 2021 holiday season.