SEOUL, Sept. 7 (Korea Bizwire) — This year’s chewing gum and candy sales have dwindled as more people are staying indoors to avoid the coronavirus.
Lotte Confectionery Co., a unit of retail giant Lotte Group, said Sunday its chewing gum sales in the second annual quarter amounted to 37 billion won (US$31.1 million), down by 17.8 percent since last year.
Another major confectionery company Orion Corp.’s chewing gum sales in the second annual quarter came to 3.2 billion won, down by 42.7 percent since last year.
“Protective masks may have prevented customers from purchasing chewing gum,” Orion said.
Some say, on the other hand, that the chewing gum market was already struggling long before the coronavirus broke out.
Reports show that retail sales of gum in South Korea has been on a constant decline, going from 235 billion won in 2016 and 234 billion won in 2017 to 224 billion won in 2018.
Experts argue that consumers are transitioning from chewing gum to jelly candies, which are edible and don’t require constant chewing.
Image Credit: Korea Bizwire / photonews@koreabizwire.com
