New York Candy Stores Expand Operations as Consumer Confidence Reaches Historic Lows
As US consumer confidence plummets to historic lows, retailers nationwide face considerable pressure. However, a niche sector—candy stores—is demonstrating resilience and expansion across New York City and its environs.
Sweets as Recession-Proof Indulgence
Mitchell Cohen, third-generation proprietor of Economy Candy on Manhattan's Lower East Side, posits that confectionery sales remain robust during economic hardship. “The dollar isn’t going as far these days,” he remarked, “Inflation, uncertainty, all that, but there’s always candy.” His establishment, New York's oldest sweet shop, first opened in 1937 amidst the Great Depression. Initially a hat and shoe repair business with a supplementary candy cart, it pivoted entirely to affordable sweet treats when repair services became unaffordable for the general public. Eighty-nine years later, Economy Candy continues to thrive.
This sentiment is shared by Kate Bolger, who is set to open The Village Confectionery in Sleepy Hollow next month. Bolger, a former movie producer, notes that while major purchases are deferred, small luxuries like a piece of candy remain accessible, aligning with the
