With the Easter holiday right around the corner, stores have been supplying many of our favorite easter treats. From Reese’s chocolate eggs to peeps, stores are willing to supply these many candies, as they know that there is such a high demand for them at this time of year. However, much of the candy that is currently on the market as Easter candy, usually ends up sticking around in its normal form throughout the year. Unfortunately, Peeps don’t quite work this way, and are most often gone by the end of the Easter holiday. This in itself is one of the reasons as to why peeps do so well in the market at this time of year. Because of this, it limits the amount of peeps that can be supplied in these stores, and therefore creating scarcity.
Consumer tastes also has an effect on the demand of these peeps as well. Oftentimes when a person thinks of Easter, they think of candy as an important component to this holiday. While it’s easy to think that this is simply because of our culture, it actually is all due to advertisements. Because these candy companies put out advertisements for these different festive candies, people have come to believe that it’s important to buy candy for Easter.
Another reason there may be such a high demand for peeps around this time of year, is because in a way, peeps have a monopoly on this product. Sure, technically in terms of candy, this is a monopolistic competition, as there are many different companies out there creating different kinds of candy to sell to the public. However, peeps are a fairly unique type of candy, that no one else as of yet has tried to mimic to sell for their own company. Therefore, there is a high demand to buy this specific brand, because there really are no direct substitutes for this type of candy.
This year in particular, Peeps has added a whole new reason for there to be a high demand for peeps. For this Easter holiday, they’ve added eight new flavors for consumers to try, three of which they’ve left as mystery flavors. With this new addition, there will be an increase in demand for this item this Easter, once again due to consumer tastes and advertisements. With the new item being sold, there will be more people that will want to buy it to try, which will increase the demand for this Easter treat.
Vicar, Nathan. “Peeps Launches New Flavors.” 99.5 WYCD, WYCD, 18 Mar. 2018, wycd.radio.com/2018/02/21/peeps-launches-new-flavors.
Korosec, Kirsten. “Peeps Is Releasing 8 New Flavors-But Only a Few Retailers Will Sell Them.” Fortune, 26 Feb. 2018, fortune.com/2018/02/26/peeps-new-flavors-easter/.