As per the National Retail Federation’s (NRF) Halloween 2021 report, Halloween consumer spending went up to $10.1 billion in 2021 from $2.1 billion in 2020. NRF estimates it would reach $10.6 billion this year.
Did that get your attention? What started out in the 1930s revolving around adults hosting parties… got more targeted towards kids and families in recent times. And this showed in the spending stats. 65% of the adults spent an average of $92.12 in Holiday themed purchases in 2021—six dollars more than what they did in 2020.
This year, 87% of the adults are expected to spend this year, with ~40% focusing on outdoor decorations.
However, what’s noteworthy is, adults with families and children spent twice more ($149.69) than the child-free ones did ($73.57) in 2021. Expected to happen this year too.
The biggest spending categories are candy (96%), decorations (75%), costumes (67%), and greeting cards (39%). Extrapolating from the spending amounts from last year and this categorical segmentation, this is what NRF expects this year:
- $3.32B from costumes
- $3.17B from decorations
- $3.00B from candy
- $660M from greeting cards
The big brands sure know how to exploit these trends. As Mark Ledenbach called Halloween the “gateway to the holidays”, it gives a gateway to businesses to reach their sales targets between the spring and the holiday season.
- Home Depot’s Halloween and fall inventory is up to 861 products from 418 last year.
- Walmart is carrying 3.3k+ fall and Halloween products this year.
- Target’s assortment includes 197 Halloween products.
What about your business? All set for the Halloween sale?