Trick or treat, smell my feet, give me something transparent to eat! Halloween is creeping up on us as an abundance of candy, costumes, and décor flood websites and local convenience and retail stores with endless specials.
Halloween Projected to Scare Up Over $9 billion in Consumer Spending
For a majority of candy companies, Halloween is their highest revenue earning time of the year. This proves that this holiday can provide a sizable lift in any brand’s bottom line.
Halloween retail spending will be $9 billion in 2018. It’s a little less than 2017’s record of $9.1 billion. Slightly fewer, 175 million, will celebrate. They will spend a record $86.79 per person, according to the National Retail Federation’s annual survey.
When, where, and what are consumers buying this Halloween?
Retailers and especially candy companies should begin setting up their Halloween discounts and value bundles to successfully hit their sales numbers dead-on (no pun intended).
According to the survey, consumers plan to spend $3.2 billion on costumes (purchased by 68 percent of Halloween shoppers), $2.7 billion on decorations (74 percent), $2.6 billion on candy (95 percent) and $400 million on greeting cards (35 percent).
Approximately 65% of people will find their treats online or in-store; spending the most on costumes. The survey found that 35 percent of shoppers will look online for Halloween costume inspiration looking at Facebook (16%), Pinterest (16%), YouTube (15%) and pop culture.
Whether or not they’re in the mood for a sweet tooth, consumers each Halloween attempt to source out the cheapest way to participate by finding the best deals. Retailers and conveniences stores like Walmart, Five Below, or the Dollar Tree are going to be the most visited stores because they focus on offering consumers the best value with the best prices.
Consumers are looking for the best deals where they can get a big bang for their buck. As a retailer, start preparing those markdown offerings because consumers are going to be on the look-out for those early bird promotions.
Double, Double Toil and Trouble: Happy Halloween From 1WorldSync!
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