Easter Egg Price Wars Result in Modest Discounts

A broken Icelandic easter egg and the candy inside it.

The price of Easter eggs has gone down in the last couple of weeks as stores compete with pricing strategies. The cheapest chocolate treats can be found in Bónus, Extra and Krónan, while the most expensive eggs are in 10-11, Iceland and Krambúðin, Vísir reports.

In Iceland, Easter eggs are topped with a figurine, most often a yellow chick, and filled with candy along with a piece of paper with a proverb written on it. They are a ubiquitous part of Easter festivities among Icelandic families.

Big difference between stores

The Icelandic Confederation of Labour (ASI) has reviewed the prices of Easter eggs and found that the lowest prices have gone done by a few percentage points. On March 8, Heimkaup lowered their prices, with Extra, Bónus and Króna following suit.

The three stores where prices remain unusually high are 10-11, where the Easter eggs cost on average a whopping 40% more than the lowest prices, and Iceland and Krambúðin with a 38% and 37% deviation respectively. The biggest difference was on the price of a small “lava egg” from candy company Góa, which cost ISK 140 [$1, €0.90] in Krónan, but ISK 249 [$1.81, €1.70] in 10-11.

Bónus leads the way

Bónus consistently had the lowest prices, according to ASI’s review. Of the 34 Easter eggs under review in Bónus, the store sold 28 of them at the lowest price. Extra sold 34 of their 48 eggs at the lowest price, while Heimkaup sold 32 of the 46 eggs reviewed at the lowest price.

With More Icelanders at Home, Chocolate Easter Eggs Sell Out

Icelandic Easter eggs

Icelanders may be sheltering at home, avoiding travel and large family gatherings this Easter, but that hasn’t reduced demand for the country’s beloved chocolate Easter eggs – if anything, it’s only increased it, says Auðjón Guðmundsson, CEO of chocolate company Nói Síríus. Vísir reports that with more Icelanders in the country for the holiday this year, there has been a run on the chocolate egg supply the like of which hasn’t been seen in quite some time.

Indeed, in the lead-up to the holiday, the country’s chocolatiers anticipated that many of their popular páskaegg varieties would sell out this year and encouraged Icelanders to buy their favourite kind early to ensure they weren’t disappointed come Easter Sunday. “We’re working longer and…doing everything we can for Icelanders,” Auðjón told mbl.is last week. “It’s a shame when people don’t get their Easter egg.”

As a matter of fact, Nói Síríus produced more than 800,000 chocolate Easter eggs this year, including several new varieties with different kinds of candy fillings. Even so, several varieties have sold out, leading to the sense that there was a shortage of chocolate eggs this year.

“Neither we nor others were prepared for this situation. It didn’t help that production was a lot more difficult and slower due to the gathering ban,” explained Auðjón. “We tried everything and were pretty pleased with how much we managed to get out in the end. But of course, it’s just wishful thinking that everyone would get their favourite egg – that’s just how it is.”

Easter is usually a popular time for Icelanders to travel outside of the country, something that obviously wasn’t possible this year. Moreover, many Icelanders based abroad have recently returned to the country amidst the COVID-19 crisis. “Without having the exact figures, I would expect that it’s the increased number of Icelanders in the country that played a big part in this,” said Auðjón, referring to the perceived shortage.

The chocolatier also realises what a charmed position he and those in his industry are in right now. It’s difficult to complain about the enormous demand for Easter eggs, he says, at a time when income in so many other industries has evaporated. “We can only be grateful for this. Although, of course, we’d have wanted everyone to get the egg they wanted.”