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Sweet sales for Easter

 

easter egg, broken, chocolateThis Easter, couples and families will take advantage of the bumper holiday period to enjoy travel, fine food and drink, and premium confectionery.

According to IbisWorld, Australians will spend around $2.9 billion over the Easter period – up 3.4 per cent on last year.

This year, Easter falls during a bumper holiday period, coinciding with the April school holidays and closely followed by Anzac Day.

Karen Dobie, IbisWorld GM Australia, said the average person will spend $125.34 on Easter-related products and services, with food and beverages, holidays and travel, and confectionery the largest beneficiaries.

“The growth in Easter consumer spending will be primarily due to an increase in available leisure time, particularly with the convenient timing of the school holidays. Many employees will take leave over the three day working week between Easter and Anzac Day to enjoy some time off,” said Dobie.

 Easter 2014 consumer spending

Category

2013

($ million)

2014

($ million)

Growth

(%)

Chocolate

183.2

191.4

4.5

Fish and seafood

23.6

24.4

3.4

Food and beverages

1192.0

1227.8

3.0

Alcoholic beverages

135.4

139.5

3.0

Holidays and travel

1200.1

1244.5

3.7

Pubs, bars and taverns

63.9

65.7

2.8

Eggs (chicken and other)

5.9

6.0

1.7

Total spend

2804.1

2899.2

3.4

 

The seasonal sweet tooth

As the stalwart of Easter, confectionery in all its forms is set to be a go to option this year. Chocolate consumption during the period will account for a sizeable 3.6 per cent of the nation’s total annual consumption.

“While traditional chocolate brands will contribute the most to sales, there is a continuing trend towards fair trade and organic brands as consumers begin to shop with ethics taking precedence over price”, said Dobie.

Chocolate products purchased as gifts will likely favour high-end brands, demonstrating the premiumisation of the category that has been harnessed by speciality chocolate shops.

Throw another prawn on the barbie

Good Friday meals have traditionally included seafood and this custom is expected to persist in 2014, with strong demand during the Easter period and expected annual growth of 3.4 per cent in the seafood segment.

“Over the past decade, Australian palates and kitchen habits have shifted away from simple meat-and-vegetable meals towards more diverse and creative options, spurred on by the popularity of cooking television shows. Seafood is a key category that has benefited, allowing fish, prawns, scallops and more to secure their place on the Australian table – particularly during traditional celebrations such as Easter and Christmas,” said Dobie.

An appreciation for boutique beverages

During this Easter period, Australians will consume more than double the amount of alcohol at home than they will at pubs and bars.

To accompany family gatherings and elaborate meals, premium beer, cider and wine will likely increase in favour this year, with alcoholic beverages coming close to matching confectionery in consumer spending.

“The growing trend in the appreciation and knowledge of alcohol will spur many Australians to make more sophisticated selections this Easter, with sauvignon blanc, pinot gris, imported wines and craft wheat beers all appearing on the table.”

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