Valentine’s Day Chocolate Gets More Expensive


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Valentine’s Day Chocolate Gets More Expensive

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Inflation and supply chain issues are hitting Valentine’s Day products across the board, including one of America’s favorite indulgences: chocolate.

stone. Louis – Lovers, listen up! Valentine’s Day is fast approaching and people are looking for ways to treat their special someone.

This year, expect to spend more when shopping for your loved ones. Inflation and supply chain issues are hitting Valentine’s Day products across the board, including one of America’s favorite indulgences: chocolate.

Consumer confidence falls to 11-year low as inflation soars

The Chocolate Chocolate Company and Bissinger’s Handcrafted Chocolatier belong to the same family that sells their products nationwide, and this year they had to raise their prices.

Dan Abel Jr., son of the Chocolate Chocolate Company founder, said the St. Louis-based company, which is more than 40 years old, makes about a third of its revenue on Valentine’s Day alone.

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Chocolate Chocolate Chocolate Company has been in St. Louis since 1981 (Madison Scarpino/FOX Business)

“We’re making truffles and heart boxes, marshmallow hearts, caramel hearts for part of December and all of January,” says Abel.

Lately, Abel said, the cost of everything from shipping to candy packaging has gone up. So this year, the company has had to raise prices almost across the board, something it doesn’t do often and tries to avoid.

“Usually we’re like, ‘Okay, we’re going to grow chocolate bars this year, and then next year we’re going to grow truffles.’ This year it’s like, ‘Okay, we’re going to have to raise pretty much all of our money because of every single cost we have All went up,'” Abel lamented.

It wasn’t just the local chocolate factory that had to raise prices. Big companies like Hershey are also raising prices. So that will mean paying more for Hershey’s Kisses, Reese’s, KitKats and more classics.

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Each piece of chocolate is handcrafted at Chocolate Chocolate Chocolate. (Madison Scarpino/Fox Business)

Part of the problem is the cost of raw materials. For example, from 2000 to 2021, sugar prices rose 4.6%, while milk prices rose 4.2% and peanut butter prices rose 3.8%, according to the Bureau of Labor. It’s also difficult to get raw materials when needed, Abel said.

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“A small problem in the supply chain can really hold things back,” Abel said. “If we lose on Valentine’s Day, it means that by June, July and August, our finances will be very tight and we will face a cash crunch.”

Abel says chocolate strawberries are a staple of his company’s Valentine’s Day. He describes strawberries as “instant stock,” meaning the fruit is usually trucked in from California the night before or in the morning, where they’re dipped in chocolate and ready to sell.

“It’s been successful for 40 years, but this year is the 41st year because of supply chain issues, and it freaks me out,” Abel said.

But Lauren Boland, communications director for the National Confectioners Association, said consumers shouldn’t worry about chocolate shortages this Valentine’s Day.

Candy company owners raise prices by 12% to fight inflation

“Manufacturers are working with our retail partners to ensure that the products consumers are looking for to celebrate Valentine’s Day are on the shelves,” Boland said

Valentine’s Day candy sales are expected to exceed $3.4 billion in 2022.

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