As the cost-of-living crisis shows no sign of let up, sweet manufacturer Swizzels has introduced increases to its range of price-marked packs (PMPs) for the first time in its history.
The new range will have a £1.15 price mark and will start to appear in wholesalers in the New Year.
Before making the changes, Swizzels partnered with The Fed to conduct research among retailers to gauge their views about the future of PMPs.
Mark Walker, Sales Director at Swizzels, said: “Of the retailers we surveyed, 44% said that the majority of suppliers across all categories had already moved above the £1 PMP. In fact, 75% stated that they saw slightly higher sales or no change, proving that moving above the £1 PMP is a low-risk move.
“We also discovered that 60% of retailers were comfortable stocking a higher-priced PMP, provided their margins were protected.”
Despite the majority of consumers saying they are reducing their spending, sales of sweets remain largely unaffected. According to IRI, Sugar Confectionery continued to grow 8.9% over the 12 weeks to 2 October.
