DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

COVID-19 Crisis Takes Bite Out Of Swiss Chocolate Sales

By Dayeeta Das
Share this article
COVID-19 Crisis Takes Bite Out Of Swiss Chocolate Sales

Swiss chocolate sales fell 14.3% in the first eight months of the year as the COVID-19 pandemic hit travel retail and the industry's business with hotels and restaurants.

The decline was even more marked in the four months to August, at 21.5%, with both domestic sales and exports hit, industry association Chocosuisse said in a statement.

Over 70% of Swiss chocolate is exported, with business particularly affected this summer by the downturn in travel and tourism, said the association, which counts Barry Callebaut and Lindt & Sprüngli among its members.

'No Recovery' In Sight

"In these important markets, no recovery is in sight even longer term," Chocosuisse said.

Over the eight month period, domestic sales of Swiss chocolate also fell, while imports of chocolate made abroad increased, the association said, criticising high raw material prices in Switzerland due to "protectionist regulation".

ADVERTISEMENT

Switzerland's chocolate industry generated sales of CHF1.8 billion (€1.7 billion) in 2019.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.