Quality Street maker Nestle and Cadbury owner Mondelez are witnessing higher sales of confectionery in Britain this holiday season driven by cash-strapped shoppers seeking cheaper gifts, Reuters reported.
According to analysts and consumer companies, consumers hit by inflation and higher mortgage rates are purchasing less expensive gifts this year.
Some are opting for toys and gadgets in favor of chocolate which, despite price rises over the past year, stays relatively inexpensive, it said.
