Thursday, March 12, 2009

Chocolate is now the "Affordable Luxury"

According to The Times in South Africa, people are now concluding,
"If you're broke, have a chocolate."

Per The Times:

AS NEWS of tough economic times continues to bombard people, so consumers are turning to chocolate for consolation...

Strong growth was experienced across emerging markets, particularly in South Africa, India and South America, where local chocaholics munched their way to a 20 percent increase in revenue growth.

This was attributed to more people spending time at home instead of going out .

Earlier this week upmarket store Selfridges in London said chocolate sales are 80 percent higher than they were a year ago.

Consumers are splashing out on chocolate as an “affordable luxury”, said a spokes man from Selfridges.

Certain sectors likely to attract more investors in a downturn include luxury goods, pharmaceuticals and utilities.

Chocolate and drugs. Sounds like self-medication to us.

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