- People who celebrate Halloween will spend an average of $86.79
- 175 million Americans plan to partake in Halloween festivities
- $9 billion in sales projected for Halloween 2018
- 45% of survey respondents said they are going to shop at discount stores for Halloween
Americans have been celebrating Halloween since the early 1900s. In the 1930s and ‘50s people started dressing up and headed out for trick or treating. All that candy and all those costumes now represent $9.0 billion in potential business for retailers this Halloween. This sales projection comes from the National Retail Federation’s (NRF) annual survey conducted by Prosper Insights & Analytics (and interestingly, is down from last year’s $9.1 billion, which was the largest Halloween spend in the 14 years of survey data).
Discount Stores will Lead Halloween Sales
People are planning to buy lots and lots of candy this year. And they also plan to decorate their yards and buy greeting cards. According to Coresight research, here is how the spend breaks down:
- Costumes will account for the biggest share, at $3.2 billion ($31.26 average)
- Candy at $2.6 billion ($25.47 average)
- Decorations at $2.7 billion ($26.21 average)
- Greeting cards at $400 million ($3.85 average)
Historical trends show that Halloween shoppers tend to shop at discount stores to get the best deals on large bags of candy and inexpensive costumes. Around 45% of NRF survey respondents said they are going to shop at discount stores for Halloween items this year. Some 35% of those polled said they will shop at Halloween specialty or costume stores, while 25% plan to shop at department stores, 24% will buy online as well as in grocery/supermarket stores.
Major Retailers Can Sell Excess Inventory into the Secondary Market to Offset Loss
Savvy retailers looking to increase their margins on overstock and returned items can liquidate returned and overstock Halloween merchandise through B-Stock’s online marketplace platform. B-Stock directly connects sellers to buyers through a transparent auction site. B-Stock has an established Buyer Network of SMB owners that operate discount and clearance stores, many of which are located in rural America in towns of 20,000 people or less. These SMB owners need inventory that major retailers have sitting in expensive warehouses (including candy and costumes!). To learn more or request a demo, get in touch with us today.