Halloween Spending Expected To Soften As Consumers Hit Stores Earlier
Early Halloween shopping is on the rise, according to the National Retail Federation, with its most recent survey finding that nearly half of consumers are on the hunt for their holiday needs before October.
This year’s survey conducted by Prosper Insights & Analytics found that 47% of survey respondents are getting a headstart for the October 31st holiday, up 10% from five years ago. Total Halloween spending is expected to reach $11.6 billion, down from last year’s record-setting $12.2 billion.
“Halloween marks the official transition to the fall season for many Americans, and consumers are eager to get a jump start on purchasing new seasonal décor and other autumnal items,” said Katherine Cullen, vice president of Industry and Consumer Insights with the NRF. “Retailers are prepared to meet this early demand by offering shoppers all the holiday essentials to make this year’s celebrations memorable.”
The top reasons shoppers are getting an early start include looking forward to the fall season (48%), avoiding the stress of last-minute shopping (38%), or because Halloween is one of their favorite holidays (37%).
“Interest in early Halloween shopping continues to be dominated by the 25-34 age group, with 56% of shoppers in this group kicking off their shopping before October,” said Phil Rist, executive vice president of Strategy at Prosper. “Their love of the holiday is a key factor in this trend, with nearly half of this segment sharing that they plan to shop early because Halloween is their favorite holiday.”
Seventy-two percent of consumers plan to celebrate Halloween this year, consistent with last year’s record of 73%. Top holiday activities include handing out candy (67%), decorating their home or yard (52%), dressing up in costume (49%), carving a pumpkin (43%) and throwing or attending a party (29%).
Those taking part in Halloween plan to spend an average of $103.63, about $4.62 less than last year’s record of $108.24.
Across spending categories, candy remains the most popular with total spending expected to reach $3.5 billion. Total spending on decorations is expected to hit $3.8 billion, followed by costumes ($3.8 billion) and greeting cards ($0.5 billion).
Discount stores (37%) remain the top destination to buy Halloween items, followed by specialty Halloween/costume stores (33%) and online (33%).
Consistent with last year, total spending on adult costumes is expected to reach $1.8 billion, while spending on children’s costumes is anticipated to hit $1.3 billion. As with previous years, interest in pet costumes remains steady and is projected to reach $0.7 billion.
