Candy

A front page piece from Tuesday’s issue of The New York Times discusses the current state of the candy industry and candy retailing.

It turns out that candy is an inferior good: its sales go up when incomes drop.

This makes it an important indicator for the economy as a whole. Lipstick and other sorts of make-up that women by a la carte are also a good indicator that moves opposite to the economy as a whole (Greenspan was known for paying a lot of attention to lipstick sales).

There may be historic precedent to the recessionary strength of the candy business. During the 1930s, candy companies thrived, introducing an array of confections that remain popular today. Snickers started in 1930. Tootsie Pops appeared in 1931. Mars bars with almonds and Three Musketeers bars followed in 1932.

Duh … the reporter must not be a baseball fan because the Babe Ruth probably came out around the same time – near the end of his career.