All Hallows Eve or Halloween occurs during the end of the summer harvest and before the beginning of the coming winter months.
While the association with otherworldly entities as well as the darkness of the seasons has led to popular decor and costumes being dark and ghostly, the holiday has turned more into one for young children to enjoy some candy, carving, and even a few innocent scares.
With the commercialization of the holiday increasing, it has become one of the largest spending holidays in both the United States and the United Kingdom with over $9 billion being spent in the U.S. and an estimated £320 on spending in the U.K in 2017.
It is estimated that 64% of the population will celebrate Halloween with an average of $86 being spent per person.
When does it start?
As with any major holiday, the shopping season starts earlier and earlier each year. While most of the shopping occurs in the month of the holiday, many people are starting earlier whether they are trying to shop deals or make sure they get their desired costume.
- 6% of shoppers will start before September
- 28% of shoppers will do their Halloween shopping in September
41% will make their purchases within the first week of October
25% will wait until the latter two weeks of October to make their holiday purchases.
Where does the money go?
With $9 billion spent on the Halloween holiday in 2017, you may be wondering where did all these spending dollars go and what items did those celebrating spend their money on.
- Costumes – An estimated $3.4 billion will be spent on Halloween costumes with men spending more than their female counterparts with average purchases of $96 and $77 respectively.
- Candy – Estimated candy sales for the previous year were right around $2.7 billion making it one of the top three largest portion of spending dollars for the Halloween holiday. On average most buyers will spend $25 each on candy for the season.
- Decorations – It appears that Halloween celebrators enjoy decorations as much as they do candy and expect to spend about $2.7 billion each year on these items as well.
- Greeting Cards – While not nearly one of the top greeting card holidays of the year, many people still purchase greeting cards for friends and family to celebrate Halloween and spend around $400 million on these purchases.
Buyers search all over to find the perfect costumes and decorations for their Halloween events. So where do buyers look to find inspiration for the purchases that they will make for the Halloween season? Some of the most popular places include:
- 35.2% online
- 30.3% while in a retail store
- 20.4% from friends and family
- 18.2% from Facebook posts
- 17.9% on Pinterest
- 17.2% from a pop culture source
- 14.2% from ads and other print media
- 12.9% by watching Youtube videos
- 10.4% by following Instagram accounts
- 7.5% from current events around them
The most popular costumes?
The most popular purchases on Halloween are costumes, and the choices to make are as diverse as the population that wears them. So what were the most popular costume choices in recent years? In the United States and the United Kingdom the top costume choices for children and adults include.Superheros
As spending increases on everything from Halloween costumes, to candy, to decor, it appears that Halloween will continue to top the charts in terms of holiday spending.
While the Halloween holiday has not seen the increase in online sales that other holiday shopping has in recent years, many buyers will consult online platforms to seek out inspiration for costumes, party, and decor ideas.
Additionally, as the millennials begin to be some of the biggest spenders in the Halloween market, their increased use of online stores may provide for an increase in online spending in the future.
With over half the population in both the United States and the United Kingdom participating in the Halloween holiday, average spending is expected to increase in the years to come making it a profitable spending holiday for many retailers.