Why the market for Costco’s premium candles is up by 60%

July 25, 2021 0 Comments

The market for candles in the United States has grown to $5.5 billion, an increase of 60 percent from just a year ago, according to a new report from The National Retail Federation.

The report comes as consumers increasingly use premium candles in their homes and at events and on social media, and the popularity of candle-making has exploded in recent years.

Costco, a Costco-owned retailer with a U.S. retail store in every state, has become a destination for many holiday shoppers to stock up on candles.

Costco is also one of the nation’s largest retailers of candles, with nearly 20,000 retail stores and an estimated 3 million members. 

The report found that sales of candles and other household goods surged by 6.4 percent in 2017, the year after the holiday season began.

It said that during that time, the price of candles fell by 30 percent. 

A lot of that drop in the price has to do with a surge in demand for candles, as consumers have increasingly begun to make purchases from their homes or on social networking sites.

According to the report, sales of the candles were up nearly 50 percent in the first half of 2018, as the number of candlemakers rose by 8.2 percent.

Costco has expanded its candle manufacturing to include the manufacture of high-quality white, white, and yellow candles for the holidays.

Costco said it had been able to bring on a new production line to meet demand.

Costco’s candle industry is projected to generate $9.7 billion in annual sales in 2020, according the report. 

“Costco is the leading retailer of candles in America,” Matt Miller, Costco’s vice president of retail, said in a statement.

“We are committed to making our retail store more convenient, providing more options and more convenient products for our members, and continuing to invest in our warehouse and warehouse facilities.

We are proud to be a part of a strong, diverse, and vibrant retail industry that supports our customers, associates and employees.” 

Costco will continue to invest heavily in the supply chain of candles as well as the product, and it will offer customers the option to order online or in person.

The company said it plans to make the candle supply chain more efficient and effective, by automating the process and providing tools to its suppliers. 

Coffee prices rose by 1.2% in 2018, according a report from the National Coffee Association.

“Coffees continue to grow at a faster pace than most other commodities,” the association said in the report released Friday.

“Coffe prices have risen by almost a 50% increase over the last five years.” 

The coffee association said coffee consumption is expected to grow to 4.7 million metric tons in 2021, representing nearly 14% of the global coffee demand. 

Costca said in an email that it continues to work with the coffee association to improve its supply chain and product offering, and to provide additional tools to support its customers.

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