In a statement released by a spokesperson for Mars Chocolate North America, it was revealed that the company will increase prices 7 percent, though the specific change will vary by product.
“Mars Chocolate implements price increases only after careful consideration. We have worked to hold down costs by undertaking a number of business transformation initiatives. In the three years since our last price increase, in March 2011, we have invested significantly in the category and have experienced a dramatic increase in our costs of doing business. We have invested dollars in advertising, domestic manufacturing, sales resources, and key innovation, which have contributed to category growth. In order to continue to support our desired marketing levels and manufacturing capabilities we must balance our business model to offset rising costs. On average, Mars Chocolate North America will be increasing prices by approximately 7%, although the specific change will vary by product.”