Report: Grocers capitalize on pumpkin flavor

Pumpkin is the premier flavor of Fall, and it comes at a premium price according to a new study released Wednesday.

Pumpkin-flavored products cost an average of 7.4% more than non-pumpkin alternatives, according to data from online loan marketplace Lending Tree.

The “pumpkin spice tax”, however, may be on the decline. It was 14.1% in 2022 and 8.8% in 2020 when Lending Tree did the study. This year’s data also involved 116 grocery stores, the highest since the study began.

Which product has the largest gap in pumpkin and non-pumpkin pricing? That would be Target’s Favorite Day brand, according to the study. Favorite Day monster trail mix costs $4 for 14 ounces while Favorite Day pumpkin spice trail mix costs $5.49 for 10 ounces, which is a 92.2% difference in cost.

With Halloween right around the corner grocers are tapping into the power of pumpkin-flavored products to drive higher sales, according to a report from data analytics firm Grocery Doppio.

The report noted that 61% of shoppers said they plan to spend as much or more this Fall, and more than one in five (23%) said they’re going to increase their spending on candy.

Meanwhile, of the 113 grocery executives surveyed, 8.4% expect to see increased sales on pumpkin-flavored products.