Confectioners eye holiday boost as UK shoppers snub expensive gifts

Quality Street maker Nestle and Cadbury owner Mondelez are seeing higher sales of confectionery in Britain this holiday season driven by cash-strapped shoppers seeking cheaper gifts. Shoppers hit by inflation and higher mortgage rates are buying cheaper gifts this year, according to analysts and consumer companies. "Boxed chocolates have had a particularly strong start, with a year-on-year increase of 8.7% in value sales," according to Fran McCargo, customer category manager lead for Nestle UK & Ireland, referring to the August-November period versus last year's.