Gift Giving Guy

What sweeter way to finish my MBA degree than a thorough marketing study of gourmet chocolate? In the U.S., chocolate bucked the recession, especially dark chocolate which saw a 9% sales climb in 2009.

I’ll spare you the 38-page team project report and share just a few morsels on gourmet chocolate.

• The global market for chocolate is worth $71 billion. In the U.S., chocolate is almost a $17 billion industry, with gourmet chocolate making up nearly $3 billion in sales.
• Chocolate ranks high in the American economy’s food chain. Among all food categories, chocolate is part of the candy/gum segment and places fourth overall. What sells better than chocolate, candy and gum? Carbonated beverages, milk and salty snacks take the top three spots.
• On average, U.S. consumers spent $52.46 on chocolate in 2008, affirming chocolate’s status as an affordable luxury.
• Industry studies report that women eat 60% of chocolate sold in the U.S. and prefer premium chocolate. Men consume the remaining 40% with a greater taste for everyday chocolate.
• The main ingredient in chocolate comes from the seeds of the cacao tree (pronounced kah-KOW, but more commonly known as cocoa). Milk chocolate has 30 to 49% cacao, semisweet contains 50% to 69% cacao, and bittersweet tops 70% cacao. Generally, a higher cacao percentage means a higher price for chocolate.
• Fifty-five percent of U.S. consumers are willing to pay premium prices on chocolate.
• Almost one-third (31%) of chocolate lovers prefer mainstream chocolate (like a classic Hershey’s bar) over the premium brands.

If you are interested in giving premium chocolate as a gift, see my post on choice chocolates.