For some of us, Halloween is just another date on the calendar. For others, however, it’s an event—a chance to go all out with DIY spooky decorations, mountains of candy and treats, scare-inciting haunted houses and of course—costumes. From the store-bought to the hand-crafted, Halloween costumes give us a chance to show off our creativity, wit, or just plain silliness for one night without judgment. But there’s one thing all of these Halloween festivities have in common: they cost money. As Halloween-themed products are now more diverse to consumers than ever before, Halloween 2017 spending is slated to reach an all-time high.
According to the National Retail Federation, Halloween 2017 spending is expected to reach $9.1 billion, which is up from $8.4 billion in 2016. A few other Halloween 2017 spending stats:
- Costumes will make up the largest share of spending at $3.4 billion. That’s followed by candy and decorations (each at $2.7 billion) and greeting cards ($.4 billion).
- On average, men plan to spend nearly $20 more than women on costumes, with men spending an average of $96 and women spending an average of $77.
- The average planned Halloween spending per household is $86.13.
- 95 percent of people celebrating Halloween plan to purchase candy.
- More than 70 percent of Americans plan to hand out candy.
- Americans who plan to hand it out to trick-or-treaters will spend about $25 each on candy.
- 72 percent of people celebrating Halloween plan to purchase decorations.
- 69 percent of people celebrating Halloween plan to purchase costumes.
- 37 percent of people celebrating Halloween plan to purchase greeting cards.
- The top three places people plan to shop for Halloween are discount store, Halloween store and grocery store. Online shopping still comes in at number five, behind department store at number four.
- Halloween serves as an indication of how well retailers will do during the holiday season, which kicks off on Black Friday about a month later.
- 40 percent of holiday shoppers begin their shopping right before Halloween.
- There is a record number of Americans celebrating Halloween this year, at 179 million.
In addition to there being a larger inventory of Halloween decorations and costumes enticing Americans to shop, Halloween supplies as a result are also more affordable—meaning people are spending more now than they were even before the 2008 economic recession.
- In 2007, the average individual spending on Halloween was $65.
- In 2008, the average spending was $67. Why did it climb from 2007 to 2008? Americans didn’t realize they were in a recession, as the economy had just started to show signs of strain.
- In 2009, the average individual spending was $56.
- In 2010, the average individual spending was $66.
- In 2011, the average individuals pending was $72.31, and that number has climbed steadily since then.
Whether or not you’re into the skeletons, spider webs and spooky décor, there’s no denying the economic impact of the Halloween holiday throughout the months of September and October, and Halloween 2017 spending promises to expand that impact even further than it ever has to date.
In the marketing world, the Halloween season also breeds tremendous opportunity for brands to connect with Halloween-loving audiences. Stay tuned to next week’s blog in which we’ll look at a few effective Halloween marketing campaigns and why they were successful.
Reach out to the McNutt & Partners team today for your digital marketing needs. Call us at 334-521-1010 or visit our contact page!