Forget Willie Wonka and the Chocolate Factory. Hershey’s is blowing the top off the industry with its newest candy bar release—Hershey’s Gold. A first for the company in more than 20 years, the new bar is set to release in December and is sure to be a sweet holiday unveil. The surprise, of course, is that the Gold bar is different from its sugary predecessors...its void of chocolate but chock-full of caramel, peanuts, and pretzels.[caption id="attachment_15747" align="aligncenter" width="747"]
Photo Courtesy of Hershey[/caption]With the introduction of it’s newest cocoa-less family member, we gathered some insights on who will be integrating it into their cheerful diets this holiday, and beyond.
Caramel with Peanuts and Pretzels, Oh My!
Hershey’s Gold is set to be a a big winner this December with 72% of consumers saying they are likely or extremely likely purchase the product. The majority of these consumers are females in between the ages of 25-54. Interestingly enough, a good portion are also married but without children. The success of the bar comes as no surprise with 85% of consumers saying they'll be purchasing a Hershey’s product this year. Although, a large percentage of consumers normally buy the original Hershey’s bar (60%) and the Hershey’s Almonds bar (33%).
All Chocolate Comes with a Price
Respondents report that 90% of them choose to use Hershey’s chocolate for their own personal consumption. Whereas 43% are interested in the product for baking, and 38% are interested in gift giving. Of course, all chocolate comes with a price. When asked, 64% of consumers spend $5-$10 per week on chocolate. Once again, women tend to make up the greater portion of this 64%.
It seems that beauty isn’t the only thing that comes with age—sweets is another companion! Our data indicates that the older you get, the more you tend to spend on sweets. This is clear with 25-44 year-olds spending $5-$10 per week on chocolates, while 35-54 year-olds are spending $15-$20.
Even though Reese's is marketed by the Hershey company, many don't associate it with the Hershey’s brand. When asked, over 69% of consumers reported that Reese's was the other chocolate brand most consumed. Although Hershey’s remains the leading brand, a few other brands including Dove (48%) and Ghiradelli (44%) rank second and third in terms of purchasing decisions.
So why are consumers purchasing other brands? 73% of consumers claim it's the taste of the product that makes it so good rather than the price (35%) or the types of products available under that brand (45%).
The new Hershey’s Gold is sure to sell with its salty sweet deliciousness. It's a particularly hot commodity for married females across generations, spanning from Baby Boomers all the way to Millennials. Although, it seems chocolate lovers are more interested in taste than they are brand loyalty, generally they’re setting aside dollars every week to satisfy their cravings. In terms of competition, while there are other chocolate contenders in the ring right now, most still prefer Hershey's original bar over all other bars. We'll just have to wait and see if the newest chocolate-less addition gives the original a run for its money.