Halloween Spending Behaviours On the Up
“It’s just a bunch of Hocus Pocus!”, as said by the grouchy crone Winifred Sanderson in the classic Halloween movie, still adored by millions despite being over twenty years old. Who would have thought it would be that time of the year already when the Halloween holiday descends and we take the greatest pleasure in giving loved ones the fright of their lives!
With an ever-evolving interest for the famous October 31st arrives a growing desire for Brits to splash the cash according to a new Mintel report, predicting that folk will fork out £419 million on Halloween this year, a fantastically frightening figure that has increased by 5% from last year’s £400 million.
It is reported that in 2017 a spooktacular half (52%) of all Brits invested in Halloween, equating to 85% of parents who have children under the age of five. However, the season isn’t solely childs play, as according to Mintel research, young Millennials, (77%) were the generation most intent on spooking their neighbours and friends in 2017 and therefore thoroughly indulging in the Halloween experience.
£10 – £25 was spent by a quarter (25%) of Halloween purchasers during the scary season last year, whilst approximately the same figure (24%) paid £10 or less as opposed to an unafraid 17% who brought between £26 – £50.
56% of Brits seek much pleasure in partaking in various activities related to Halloween, resulting in a highlight amid many of their calendars, though whilst an accumulation of them take advantage of the holiday celebrations, many (43%) admit the expense of hosting a scary party is just too exorbitant.
North East / North West and East Midlands transpired as the most likely regions to contribute to scary-inspired celebrations, where a consumer total of 56% engaged in Halloween spending in 2017. In contrast, people residing in the South East / East Anglia emerged as the unlikely individuals to contribute to the ghoulish goings-on, wherein 2017 only 45% invested in Halloween merchandise.
Retail Analyst at Mintel, Chana Baram, understood:
“Halloween continues to grow in popularity benefiting from the booming leisure market and is a perfect opportunity for retailers to create experiences for customers. Once again, sales are set to increase as retailers dedicate more shelf space and merchandise to this key seasonal event. Food and drink prices have been rising over the summer months; as this is the biggest category for Halloween, we expect it will help boost sales. There has also been an increase in events and Halloween dedicated stores this year, as well as increased focus on more high-value items such as makeup and fashion. A number of supermarkets also have Halloween party ideas featured on their websites, including money saving tips such as cooking Halloween-inspired recipes from scratch and ways to decorate homes, in an effort to inspire consumers on a budget to celebrate as well.”
“As sustainability continues to dominate the headlines, it has become a big part of many retailers’ strategies. An overwhelming majority of consumers would like to reuse their Halloween items, as they become more informed about and wary of today’s throwaway culture. There is, therefore, room for retailers to sell more robust products while highlighting the fact that they can be reused.” Concludes Chana.
At FashionCapital / The FTA and The Factory HQ staff and learners are gearing up for the annual on-site Halloween party this evening. This year the theme is ‘Witches and Cats’ and there is a strong emphasis on letting the imagination run wild and creating own-design costumes. See the winning looks in next week’s newsletter!
Words by Katie Farley