In the past, the business of Halloween was pretty much limited to the US and in 2018, the total consumer spending on Halloween for the US alone was US$ 9 billion with 175 million Americans celebrating! But as we all know, this phenomenon reached UK shores a few years ago and is getting bigger and bigger each year.
In fact, us Brits are now spending an extraordinary £320 million which is set to rise again this year and it’s the millennials who are to blame for this insanity! As the millennials (also known as Generation Y and born between 1982 and 2004) get older, they also get richer and in turn spend more on events such as Halloween.
Our nation’s spending on Halloween has suffered some kind of ‘rapid mutation’ since the year 2000 with it increasing year on year. According to Global Data, a data and analytics company, in 2016 nearly 52% of British consumers spent money on Halloween in 2018 – up again like previous years – either due to the popularity of Halloween or the increase in commercialisation, spending mostly on pumpkins, costumes, and sweets.
Most people spent under £25 on Halloween with one in six spending over £50. Sales are mainly driven by confectionary for visiting trick or treaters.
Consumers are always looking for ways to save time in their busy lifestyles and having a store in a convenient location was the fourth biggest driver of retailer selection for Halloween decorations, as grocers stocked Halloween ranges in their smaller urban locations. Last year, mobile phones became the top device for browsing decoration driven by inspirational social media content and convenience.
Of course, price and value for money are also key drivers and recently quality has also increased in importance driven by the health and safety concerns surrounding children’s costumes and consumer desire to wear items multiple times.
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