Halloween isn’t just for kids anymore. It’s becoming an increasingly commercialized celebration for all ages, eagerly anticipated by horror and pumpkin spice latte enthusiasts alike.
Halloween really took off after the Great Recession. Participants still enjoy the thrifty aspect of putting together a makeshift costume or buying a few bags of candy, rather than Thanksgiving and Christmas which are much more involved.
That being said, spending trends for a night of trick-or-treating continue to peak every year.
According to the National Retail Federation,
- Half of all Americans purchased costumes last year.
- Since 2009, spending on Halloween has doubled from a little more than $4 billion to now more than $9 billion a year.
Where is all that money going?
- About 90% of Americans will buy candy, spending $2.6 billion.
- Almost 75% will purchase Halloween decor, spending $2.7 billion.
- Just under 70% of Americans will spend $3.2 billion on costumes.
- 20% of consumers, mostly millennials, will buy costumes for their pets, up from 16% in 2017.
On average, consumers will spend a record $86.79 per person this Halloween. Here’s how your business can get in on the spending frenzy this holiday season:
Decorate the Store/Office
What makes people spend more money? Being happy. And what makes people happy? Holiday cheer! No matter what type of business setting you have, a cafe, a jewelry store, an accounting firm or spa, seeing workers committed to the festivities will place good memories of enjoying the atmosphere of your business in the customer’s mind.
Bonus: October hosts more than just Halloween. Incorporating Dia De Los Muertos from Mexico, Day of Dracula from Romania, Oktoberfest in Germany, All Saints’ Day from Italy or another form of celebration from around the world can be educational and inclusive.
Use the Puns for Marketing Campaigns
Funny subject lines always get higher open rates, and the best way to craft an intriguing one in October is with a Halloween pun. The jokes are endless! With spook-infused social media photos and punny signage, your customers will be shaking in their bones with laughter! For inspiration on how to put Halloween in your marketing read this or this article.
Contests and giveaways are fun for customers and employees alike. Businesses that offer rewards for dressing up can boost company culture with a small (or over the top!) holiday party, or entice customers into the store with promises of a prize. Costume contest not your style? Something as simple as “guess how many candy corns are in the jar” for a small prize can show clients that you know how to have fun.
Besides candy, nothing gets consumers in the open wallet mindset like holiday sales. Halloween is pretty much celebrated all month long, and if your business markets to millennials at all, never forget that the young generation will spend any amount of money for the perfect Instagram. See sales: BOGO pumpkin cookies, 20% off if you shop dressed in costume, 31% off on Halloween, click to reveal mystery sale. Again, the puns are endless.
Candy on Halloween Night or All Month!
Some candy while you shop or wait in line? Chocolate is a scientifically proven stress buster, even boosting happy endorphins. By providing some sort of sweets for the holidays, Thanksgiving and Christmas too, customers will not only feel better about interacting with your business, they’ll appreciate the thoughtfulness of offering free snacks as well.
America is ready to spend, are you ready to sell?