Nicole Leinbach-Reyhle
Contributor
According to a recently released study from the International Council of Shopping Centers, nearly three-quarters of U.S. households are planning to spend money on Halloween related items. Of these families, the total for Halloween spending is expected to be around $11.3 billion this year – an impressive number hard to ignore for retailers in the Halloween business.
This is going to be a great year for the Halloween market. After all, we are selling for a Friday Halloween in 2014. Plus, costuming has become a year-round affair. People love dressing up, regardless of the season, and that’s driving growth,” states Jonathan Erwin of the Halloween & Party Expo, an annual trade show that attracts an audience of retail buyers from across the world.
This same study also reported that the average household that plans to spend money for Halloween this year will average $125 on candy, costumes, decorations and other Halloween related items. This is up from last’s years spending, with eight out of ten households planning to spend the same or more this upcoming Halloween compared to 2013.
“I can’t say I’m a huge Halloween fan, but I’m always somewhat festive by decorating the house and buying candy. When I realized it landed on a Friday this year, however, I got more excited than normal and found myself buying extra decorations and making more plans. This has certainly impacted my wallet, as well,” shared Chicago based working mom Laura Rahilly.
Rahilly’s approach to spending more because Halloween lands on a Friday isn’t uncommon. Retailers can typically expect an increase in Halloween sales when the holiday lands on a Friday or Saturday, as it does in 2014 and 2015, respectively. Additionally, Halloween in general has seen an increase in consumer appeal in recent years.
“Halloween has continued to grow in importance over the past several years and consumer demand has driven retailers to place greater emphasis on the holiday,” said Jesse Tron, spokesperson for International Council of Shopping Centers. “The fact that consumers are willing to spend more on discretionary purchases is a positive sign for the upcoming holiday shopping season.”
The International Council of Shopping Center’s found that in their Halloween survey – similar to their back-to-school shopping survey – sales and promotions will be the biggest factor in the decision to shop at a particular location for Halloween-related items. Participants of the survey revealed that when asked what influences them the most when choosing a store for Halloween, 64% of consumers said sales or the lowest price, 31% said the ability to physically see, touch or try on the merchandise and 29% said convenience, including one-stop shopping and good parking.
Jack-o-lantern (Photo credit: Wikipedia)
With this in mind, the focus on price – along with an interest in one-stop shopping – could account for discount stores claiming the top spot this Halloween. It’s reported that 34% of spending will take place at discount stores and supermarkets are expected to gain 18% of purchases. Clothing and costume stores should account for 13% while drug store chains will see 11% and and wholesale clubs, such as Costco, will gain about 9% of sales. Online is only expected to see about 7% of purchases.
Popular movie characters from 2014 that include Elsa and Anna from Frozen or Raphael from Teenage Mutant Ninja Turtles have been best-selling items this season, as are television characters from shows like The Walking Dead and Game of Thrones. But the real star this Halloween season isn’t Elsa, Anna or any character from TV. Instead, it’s Friday night. Thanks to Halloween landing on a weekend this year, sales are up and so is the anticipated Halloween fun. It’s a winning combo for Halloween goers and retailers alike.
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