Hershey on Thursday warned that increased pressure on shoppers due to high inflation and interest rates could impact how much consumers spend on candy this Halloween. U.S. consumer sentiment hovered near record lows in October as Americans head into the holiday season with their budgets under strain from high gas prices as a fallout of the U.S. war in Iran. Hershey lowered its annual organic net sales growth target to about 3 percent, citing weakness in channels such as convenience stores, where customers were budgeting for higher gas prices. The Milk Duds maker was banking on last-minute shoppers looking for bulk packs of candy ahead of Halloween on Saturday, October 31, executives said on a post-earnings call. “Now we need consumers to show up, we need them. The last few days are really critical,” said Hershey CEO Kirk Tanner. A 51.03-ounce pack of Hershey assorted Halloween candy with 165 pieces cost about $23.87 on Walmart’s website as of Thursday morning. “Halloween participation is expected to be in line with 2025, though financial pressures could shape final purchase decisions,” Tan
Hershey warns rising living costs may spook Halloween shoppers
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