May 28/Lakeland, Fla./The Ledger -- After stalling in early 2009, the dark chocolate market finished the year with a 9% increase in sales. Not bad for an industry that many analysts thought would see demand from recession-weary consumers melt away, particularly amid higher prices for cocoa beans and predictions of a shortage in the world cocoa harvest. In the first two months of 2009, dark chocolate sales were off by 2.2%.
However, while consumers started to pull back on unnecessary spending, they found ways to treat themselves. Economists call it the "lipstick factor," referring to the historical rise in lipstick sales during tough economic times as women looked for an affordable way to cheer themselves. In the candy industry's case, during the recession people sought chocolate as an affordable indulgence to feel better.