There’s no better way to increase demand than threatening to cut off supply.
Necco Wafers, those chalky, curiously flavored candies that kids have been throwing away on Halloween for years, are suddenly red hot as their manufacturer teeters on the edge of a shutdown.
Confectioner Necco has been warning customers it is struggling for some time now—and has said it might be forced to lay off most of its workforce if it can’t find a buyer. And that has seemingly spurred a rush on its namesake candy.
The Wall Street Journal reports candy stores and consumers are buying Necco products as fast as they can, with sales at some stores jumping by 50%.
“The sales numbers don’t lie—people are rushing to stockpile them like they’re the next cryptocurrency,” said CandyStore.com spokesperson Clair Robins.
One customer, she said on the company’s blog, offered to trade their car for all of the site’s Necco wafers.
It’s not just candy stores, either. Necco is red hot on eBay, with people already paying more than the retail price for Necco Wafers and other candies, such as conversation hearts.
Nearly 400 workers’ jobs are on the line at Necco and they could be let go by early May. The company says it has been in “ongoing negotiations with potential buyers to allow for its continued operations.” Layoffs aren’t the only looming problem. The company’s lease of its 830,000-square-foot building expires at the end of August.