Dive Transient:
- Shoppers are anticipated spend $11.6 billion on Halloween this yr, a decline from final yr’s file $12.2 billion, based on a Nationwide Retail Federation survey performed by Prosper Insights and Analytics. The survey discovered that just about half (47%) of respondents had begun their Halloween purchasing earlier than October, up from 37% 5 years prior.
- Buyers plan to spend $103.63 on common, down barely from final yr’s file of $108.24, based on a survey of practically 8,000 shoppers. Over a 3rd (37%) of shoppers plan to purchase their Halloween gadgets at low cost shops, adopted by specialty Halloween/costume shops (33%) and on-line (33%).
- The report tasks that buyers will spend $3.5 billion on sweet, $3.8 billion on decorations, $3.8 billion on costumes and $500 million on greeting playing cards.
Dive Perception:
After years of rising Halloween spending, shoppers have been spooked out of spending at file ranges this yr. In 2022, the NRF predicted that buyers would spend $10.6 billion on Halloween, a rise from $10.1 billion in 2021. Final yr, the commerce group predicted that buyers would spend $12.2 billion on the vacation.
The NRF survey gives some perception into why buyers are heading to shops earlier than October to get their Halloween purchasing performed. Whereas practically half (48%) of buyers attributed their early Halloween purchasing to wanting ahead to fall, 38% mentioned they did so to keep away from the stress of last-minute purchasing, the survey discovered.
“Curiosity in early Halloween purchasing continues to be dominated by the 25-34 age group, with 56% of buyers on this group kicking off their purchasing earlier than October,” Prosper Govt Vice President of Technique Phil Rist mentioned in a press release. “Their love of the vacation is a key issue on this pattern, with practically half of this section sharing that they plan to buy early as a result of Halloween is their favourite vacation.”
Shoppers additionally started their Halloween purchasing early final yr. A Jungle Scout report launched final October discovered that Amazon searches for Halloween costumes for adults spiked 395% in August 2023.
Spirit Halloween, which states it’s the nation’s largest Halloween retailer, introduced plans to open a record-breaking 1,525 areas this yr. In June the retailer mentioned they had been hiring 50,000 seasonal gross sales associates and retailer managers.
