Consumer belt-tightening slows Easter Egg sales

by Antoinette Odoi Marketing 20-Mar-08, 13:26

LONDON - Easter eggs appear to be latest victim of the credit crunch, with sales slowing significantly compared to recent years.

Research by Nielsen, based on data collected from supermarkets and convenience stores, revealed that sales of Easter eggs grew only 9% in the first two weeks of this year's six-week Easter trading period, down from 16% during the same period last year and 17% in 2006.

Sales of other discretionary, non-essential purchases, such as DIY goods, cut flowers and plants, have also been lacklustre. The growth in cut-flower sales dropped to 4% this year, down from 8% last year.

Stephen Robertson, the British Retail Consortium's director-general, conceded that retailers were having a difficult year, with consumers' personal finances being ground down by the credit crunch and unpredictable weather.

Mike Watkins, senior manager for retail services at Nielsen, predicted that any last-minute rush to the shops to buy food would be less marked than last year.

However, there was some good news for confectionery firms: chocolate novelties such as bunnies and flowers are growing in popularity, with sales growth of 9% marking an exponential rise on last year when they grew only 1%.

Nielsen predicts £4.4bn will have been spent in the four days (Monday to Thursday) leading up to Easter, with a further £3.6bn being spent between Good Friday and Easter Monday.