Here’s why Valentine’s Day candy is so expensive | CNN Business (2024)

Here’s why Valentine’s Day candy is so expensive | CNN Business (1)

Prices for some specially-packaged Valentine's Day candy cost much more than the regular versions.

New York CNN

With Valentine’s Day fast approaching, stores are relying on procrastinating romantics to make a last-minute dash in stores and online to help clear out the supply of the special-occasion candy.

If you’re among them, don’t be fooled by the smorgasbord of cutely packaged candy adorned with hearts and cupids in all shades of rosy hues. Those sweet treats might leave a bitter taste if you do some math on how much more you’re paying for them.

Some special Valentine’s Day editions of popular candies, such as Sour Patch Kids, Jolly Ranchers and Haribo appear to be priced higher than the regular versions of those sugary treats for roughly the same quantity.

The price difference caught the attention of Veronica Fletcher, cofounder and publisher of food and cooking websitePantry and Larder.

Heart-shaped gift boxes of Chocolates in a Target store aisle in Queens, New York on January 05, 2023. Lindsey Nicholson/UCG/Universal Images Group/Getty Images Related article Cocoa prices are soaring. Will it affect your Valentine’s Day chocolate?

Fletcher, a former data analyst with the supermarket industry, looked at the cost of a few Valentine’s Day-themed candies at retailers this year, such as Walmart, and compared them to regular versions of the same candies (using the price for ounce metric) and noted a hefty premium.

For example, she said a Valentine’s Day-themed heart-shaped box of Sour Patch Kids candy (3.45 oz) was listed on Walmart.com for $3.96 ($1.15 oz), while a regular box of the candy (3.5 oz) costs $1.24 ($0.35/oz).

Haribo Goldbears Gummi Bears Valentine Heart Box (7 oz) on Walmart.com is priced at$5.97 ($0.85/oz) compared to $2.38 ($0.30/oz) for a regular 8 oz bag of the candy.

Walmart said it was looking into the price differences, but said some of the Valentine’s Day candy items on its website are listed by third-party sellers on Walmart marketplace.

CNN visited a CVS store in New York City and found a heart-shaped box of Sour Patch Kids (3.4 oz) for $7.49 and another in the watermelon flavor also in a heart-shaped box for $5.99 (3.4 oz). A Walmart supercenter in New Jersey visted by CNN also had the heart-shaped Sour Patch Kids candy box for $3.96 on the shelf.

“Is it unreasonably high price for seasonal products? It sounds like it,” said Edgar Dworsky, former assistant attorney general in Massachusetts who is a consumer advocate and editor of the website ConsumerWorld.org.

Here’s why Valentine’s Day candy is so expensive | CNN Business (3)

Some Sour Patch Kids Valentine's Day editions cost much more than the regular versions of the candy for roughly the same quantity.

“It almost gets to the greedflation issue, where some companies are taking advantage of a situation where consumers have come to expect higher prices on everything because of inflation,” said Dworsky.

CVS, in an email to CNN, said “prices of Valentine’s Day candy may vary based on cost or quantity.”

“We regularly explore new ways to deliver value to consumers, focusing on offering the right price on thousands of products every day while simplifying promotions so CVS Pharmacy customers who are looking to save money can better access our value through our loyalty offerings, like our ExtraCare Rewards program,” the retailer said.

Some rational reasons

Seasonal items typically are made for a limited sales period and hence made in limited quantities. “This can make it costly to manufacture these items and to sell them,” said John Talbott, director at the Center for Education and Research in Retail at Indiana University’s Kelley School of Business.

“Valentine’s Day is a one-day opportunity. So sellers almost need a higher markup on the candy items to justify stocking the specially-packaged products,” Talbott said. At the same time, plenty of shoppers will likely not even be thinking about the price as Feb. 14 rolls around. Retailers are counting on it.

“My thought is, it’s kind of like ‘Oh crap! I forgot to get my wife chocolate.’ At that point you aren’t even thinking about the price,” he said.

A smarter approach might involve some advance planning, suggested Dworsky.

“Buy the candy after Valentine’s Day when it’s heavily discounted or buy the regular cheaper version of the candy and package it yourself,” he said. “That’s what I did.”

Here’s why Valentine’s Day candy is so expensive | CNN Business (2024)

FAQs

Why is Valentine's Day candy so expensive? ›

Seasonal items typically are made for a limited sales period and hence made in limited quantities. “This can make it costly to manufacture these items and to sell them,” said John Talbott, director at the Center for Education and Research in Retail at Indiana University's Kelley School of Business.

How much do candy companies make during Valentine's Day? ›

The National Confectioners Association tells the Chamber that 92% of Americans plan to purchase candy for Valentine's Day this year, including 58 million pounds of chocolate — one of the holiday's most popular candies. Overall, the Valentine's Day season represents about $4 billion in confectionery sales each year.

Is candy cheaper after Valentine's Day? ›

Americans spend more than $25 billion on Valentine's Day gifts, but the following day kicks off a dash for leftover holiday candy. The day after Valentine's Day is the first of four Discount Chocolate Days, including the days after Easter, Halloween and Christmas.

What is the most sold candy on Valentine's Day? ›

Chocolate is the most popular candy for Valentine's Day for a reason. These delicious treats pair perfectly with any gift. Give chocolates alongside flowers or stuffed animals.

Why is candy so expensive now? ›

David Branch, vice president of Wells Fargo's Agri-Food Institute, believes that while the hike in sugar is a major factor behind candy inflation, it's not the sole driver. “The cost of ingredients is up by a lot, inflation is up and transportation costs are higher than they were two years ago.

How much money do Americans spend on candy for Valentine's Day? ›

Inexpensive items top the most popular gifts

Chocolate candy sales rose 11.2% to $2.8 billion, and non-chocolate candy rose 21.4% to $1.4 billion.

What is the most profitable candy company? ›

Mars Wrigley Confectionery

Who profits from Valentine's Day? ›

Mom-and-pop restaurants, local flower shops and small jewelry stores are the ones that really benefit from this holiday,” said Mamun. “There are even customizable candy shops with products you can write a name on.”

Who pays for Valentine's Day? ›

68% of women expect their male dates to pay, while 78% of men feel responsible for the cost. The person who extends the invitation for a date should pay the tab and tip.

What happens to unsold Valentine candy? ›

They sell it the day after, marked down. Most of it is still just candy after all.

What are the top 3 items consumers buy for Valentine's Day? ›

Valentine's Day Spending Reaches New Heights
  • Candy (57%)
  • Greeting cards (40%)
  • Flowers (39%)
  • An evening out (32%)
  • Jewelry (22%)
  • Clothing (21%)
  • Gift cards (19%)
Feb 9, 2024

What happens to leftover Valentine's candy? ›

Right after the holiday they will have sales to try to get some profit out of the leftover candy after a month or so those stores will either donate it to food pantries or sell it to discount grocery stores.

What is the #1 gift that children receive during Valentine's Day? ›

Popular Valentine's Day gifts for children include stuffed animals, chocolates, handmade cards, crafts, jewelry, and books.

What is the most bought Valentines Day gift? ›

What are the most popular gifts to send for Valentine's Day?
  • Flowers & Chocolates. ...
  • Cook a Romantic Dinner Together. ...
  • Treasure Hunt. ...
  • Couples Activity. ...
  • Make Your Own Card.

What is the most popular candy in 2024? ›

One surefire prediction for the balance of 2024 is that the perennial favorites will remain at the top of consumers' want lists. They include such famous names as Reese's Peanut Butter Cups, M&Ms, Skittles, Sour Patch Kids, Starburst and Hershey's Kisses.

What is the most expensive piece of candy? ›

Highlights: Most Expensive Candies Statistics

"The Wispa Gold Wrapped Bar costs about $1628 per candy bar." "Le Chocolate Box by Knipschildt comes at $260 per ounce." "Noka Vintages Collection is a chocolate candy priced at $854 per pound."

Why do we sell so much chocolate on Valentine's? ›

The Victorians from that era loved the idea of courtly love and gave others elaborate cards and gifts. According to the website Candy Favorites, chocolate was in high demand by the upper classes of Victorian-era England.

What is the most bought item on Valentine's Day? ›

Candy: As the saying goes, “Candy for the win!” It comes as no surprise that candy tops the list, with 57% of people purchasing sweets for their loved ones on Valentine's Day. Chocolates, in particular, are a timeless classic and a symbol of romance.

Are things more expensive on Valentines Day? ›

Consumer Price Index for Valentine's Gifts

The average cost of candy was up 4.7% across the US last month compared to January 2023 and 26.2% in comparison to January 2020. The cost of cakes, cupcakes and cookies hasn't increased as much in the past year-just 1%--but since January 2020, the average price is up 26.5%.

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