Hotel Chocolat Is Killing Christmas Discounts As Its Profits Plunge
For those of you who are obsessed with chocolate during the winter months and are willing to spend your pocket money on the highest quality stuff available in the market, odds are that you've heard of Hotel Chocolat. The brand, a household name among other British chocolate candy makers, opened its first shop in 2004 in North London under the founders Angus Thirlwell and Peter Harris. Today, there are over 120 Hotel Chocolat stores and outlets — including locations in Japan — offering high-quality items in the form of mixed drinks, hot chocolate (which isn't the same as hot cocoa), sweets, and more.
The company champions using more cocoa and less sugar when it comes to chocolate making and even sources its beans from its own farm in St. Lucia, ensuring only the most delicious and authentic ingredients make their way into its products. Unfortunately, with great quality come higher costs, and this holiday season, Hotel Chocolat is pulling back on its discounts.
No holiday deals from Hotel Chocolat
According to The Guardian, Hotel Chocolat will sell a majority of its products at full price and prioritize quality rather than quantity when it comes to sales during the holidays. So, why the big switch? Is there a chocolate shortage we consumers don't know about? Well, it all comes down to money. The chocolate company lost £9.4 million — or around $11.4 million — in the fiscal year 2022.
A part of this financial dip can be attributed to falling sales in Japan for the third year in a row (via This Is Money). Additionally, the business closed all its stores in North America this year, leading to a drop in shares by more than 40% (via Confectionery News). Though Hotel Chocolat expects a successful December, it will sell more of its goods at full price, which is probably great news for chocolate farmers. However, the brand maintains that customers will still have budget-friendly options, including Christmas gifts retailing for £2.50 and £8.50 (approximately $3.07 and $10.43, respectively).