319. 5 things to know about how consumers are shopping for Halloween
Retail Gets Real · with Katherine Cullen · October 3, 2023 · 12 min
Summary
Total Halloween spending is projected to reach a record $12.2 billion, with 73% of consumers participating in related activities. This episode analyzes the key drivers behind this increase, offering retailers crucial insights into consumer behavior and spending patterns that can inform strategies for both Halloween and the upcoming winter holiday season. Understanding these trends is vital for optimizing seasonal merchandising, inventory, and marketing efforts.
Key takeaways
Total Halloween spending is expected to hit $12.2 billion, a significant increase from $10.6 billion last year, indicating strong consumer willingness to spend on seasonal events.
A record 73% of consumers are expected to participate in Halloween activities, up from 69% in 2022, highlighting an opportunity for retailers to maximize engagement.
Insights from Halloween consumer behavior can be used to forecast and prepare for winter holiday spending patterns, offering a predictive advantage for retailers.
Retailers should refine seasonal merchandising, inventory management, and targeted marketing campaigns based on these spending trends, particularly for popular categories like costumes, decorations, and candy.
The episode alludes to potential drivers for increased spending such as a desire for normalcy post-pandemic, increased disposable income in some segments, and effective retail promotions, prompting retailers to consider these factors in their strategies.
Total Halloween spending is expected to reach a record $12.2 billion, exceeding last year’s record of $10.6 billion, according to NRF’s annual survey, and a record number of people (73%) will participate in Halloween-related activities this year, up from 69% in 2022. To get us in the Halloween spirit, we’re talking to Katherine Cullen, NRF’s vice president of industry and consumer insights, for insights into what’s driving Halloween spending trends and factors that might impact winter holiday spending. Learn more at retailgetsreal.com.
What does this episode say about retail & omnichannel?
Total Halloween spending is expected to hit $12.2 billion, a significant increase from $10.6 billion last year, indicating strong consumer willingness to spend on seasonal events.
What does this episode say about brand & content?
A record 73% of consumers are expected to participate in Halloween activities, up from 69% in 2022, highlighting an opportunity for retailers to maximize engagement.
What does this episode say about analytics & attribution?
Insights from Halloween consumer behavior can be used to forecast and prepare for winter holiday spending patterns, offering a predictive advantage for retailers.
What does this episode say about retail & omnichannel?
Retailers should refine seasonal merchandising, inventory management, and targeted marketing campaigns based on these spending trends, particularly for popular categories like costumes, decorations, and candy.
What does this episode say about retail & omnichannel?
The episode alludes to potential drivers for increased spending such as a desire for normalcy post-pandemic, increased disposable income in some segments, and effective retail promotions, prompting retailers to consider these factors in their strategies.
