In yesterday’s post, we detailed how much spending was predicted for this Halloween and what activities people planned on participating in. Today, we’ll take a deeper look at the items people plan on spending and when they will start their Halloween purchasing.
• More than $2 billion will be spent on candy – the average household is predicted to spend $22 on Halloween candy
• The other major spending category for Halloween spending is decorations. On average, people celebrating Halloween will spend over $20 on Halloween decorations. With nearly 70% of Halloween revelers buying decorations – total spending will hit $1.9 billion
• Approx. a quarter of people plan to spend less on Halloween because of economic conditions
• 28% of people will start shopping Halloween before Oct. 1st and over 40% will shop in the first two weeks of October
What Does This Mean To You?
As we showed yesterday, Halloween has become the number 2 consumer spending holiday/event.
With this much cash being spent, there are many ways you can get your fair share, and if you’re not in a business that traditionally gets Halloween business – there are still things you can do to monetize the holiday.
Yesterday we talked about ways of getting visibility from sponsorships to in-store events.
Sweepstakes are another thing you can do to create loyal customers. With one in four people looking to spend less on Halloween, Giving away Halloween prize packs with candy and costumes could
be a draw. Halloween has become more of an adult holiday, so giving away things that make Halloween parties great could also make an effective promotion. Halloween offers your business lots
ways to draw attention to itself. For more ideas on how to effectively implement them, please contact: Al Fiala
Source: National Retail Federation