Australians will spend more than $3 billion on Easter chocolate and other food, research shows
Australians will opt for celebrations at home and gifts of confectionary this Easter, according to research from business information analysts at market research company IBISWorld.
Across the four-day Easter break, IBISWorld predicts Australians will spend more than $3 billion, which equates to $132.85 per capita. This is a slight increase on the $130.33 per capita in 2012.
Easter is the most significant holiday for the chocolate industry, with spending during the break about 50 per cent higher than a typical week. This year, Australians are expected to spend $185.7 million on chocolate, a growth of 5.2 per cent compared to 2012. Many Australians will be going for dark organic options, said IBISWorld, rather than traditional favourites.
“Australians are becoming increasingly health conscious, a trend that has resulted in growing demand for low-fat and low-sugar treats. Dark chocolate is expected to be a popular choice this Easter as it is regarded as a healthier indulgence. Sustainability will also be on people’s minds, with fair trade chocolates tipped to be a favoured gift,” said IBISWorld spokewoman, Ms Dobie.
As well as dark and fair trade chocolates, Ms Dobie said it’s predicted that premium brands such as Lindt and Haigh’s will enjoy an increasing demand as consumer sentiment improves, interest rates remain low and overall economic trends remain positive.
But Australians may have to spend more to fulfil their chocolate cravings this year. IBISWorld says a global rise in cocoa prices is likely to push chocolate prices higher.
Because many Australians are expected to celebrate Easter at home this year, in part because the long weekend falls outside of school holidays in some states, IBISWorld predicts that supermarkets and butchers can expect shoppers to spend more on traditional barbeque favourites. Fishmongers and liquor retails are also expected to do well.
Fish and seafood expenditure is expected to enjoy a growth of around 4.9 per cent, with many Australians eating seafood across the whole long weekend break, rather than just the traditional seafood meal on Good Friday.
Imported wines, cider and craft beers are tipped to be firm favourites, with Easter alcohol spending tipped to come in at $137.6 million.
Overall, spending on food and beverages is expected to reach $1.55 billion, which is a 3.6 per cent increase on 2012 spending.