Do Higher Prices Mean Lower Sales? Hershey Thinks It's Found the Sweet Spot
1. Hershey plans price increases to offset rising cocoa costs without losing sales. 2. CEO Buck expects a 1-to-1 price elasticity ratio to maintain sales. 3. Seventy-five percent of products will remain under $4 post-price increase. 4. Hershey's pricing strategy follows chocolate price hikes of 30-50% recently. 5. Other companies like Mondelēz are also raising prices strategically.