Lindt & Sprüngli has partially reversed its decision to raise prices across its product range after Easter chocolate sales fell short of expectations.
The Swiss confectioner acknowledged that the aggressive pricing strategy contributed to a decline in revenue during the critical holiday period.
8%, describing the move as necessary to offset rising costs.
The company had implemented a groupwide price increase of 11.8%, describing the move as necessary to offset rising costs.
However, the market response was negative, with consumers pulling back on purchases.
The resulting drop in Easter sales volume forced management to reassess its approach, leading to the partial rollback of the hikes.
This development highlights the sensitivity of consumer demand in the premium chocolate segment.