The Halloween Shopping Craze Hits an All-Time High…Are You Ready to Cash In?
Halloween isn’t merely a day for trick or treaters to collect candy. It’s a lot more than that. As years go by, Halloween continues to be a monstrous hit year after year and steadily growing. As a matter of fact, Halloween spending is about to hit an all-time record this year with projections of over $8.4 billion in retail sales.
No matter the state of the economy or however many people have been affected by the Recession, Halloween remains the one holiday where consumers carve their pumpkins, put up their ghostly decorations, or don their costumes and go out with their children to enjoy a night of trick or treating. At the local Party City store alone, hundreds of families are buying masks and costumes from fairies to superheroes to Disney characters, etc. Additional seasonal help has been hired to try to control the crowds and keep the lines moving. Most retail and thrift stores tend to cash in huge during the month of October. It’s safe to say that Halloween isn’t merely a holiday but an event and is second only to Christmas.
Check out these statistics for the year 2015: 157 million Americans were involved in Halloween in some way and spent around $6.9 billion in Halloween goods! Out of that $6.9 billion, 37% was spent on costumes, 28% was spent on decorations, and 35% was spent on candy. $1.2 billion was spent on adult costumes and $950 million was spent on children’s costumes. Now here’s a stat that may or may not surprise you. Approximately half of those 157 million Americans involved in Halloween used eCommerce stores to find and purchase their costumes. Many of them were independent eCommerce specialty Halloween sites on top of Amazon and eBay.
So what do these statistics tell us? Obviously they tell us that Halloween is a billion dollar industry, adults spend as much money on themselves as they do on their children when purchasing costumes, billions of dollars are spent on candy, decorations, and costumes, and most importantly, approximately 78 million Americans used eCommerce sites to find and buy costumes. Now you’ll likely be thinking “Is it a good idea to open an eCommerce business of my own and get a piece of this billion dollar holiday that people are so crazy about?” With the popularity of the online independent storefronts which nowadays are competing with the big players including Amazon and eBay, that proves that there is a space for independent eCommerce stores to get in on the craze.
One other statistic that should not go unmentioned is that 41% of consumers begin their Halloween shopping in the first two weeks of October. A large percentage start their shopping even before the month of October. With the rising popularity of eCommerce sites, the Halloween industry, even despite it being a seasonal holiday, is one that you definitely want to consider if you’re looking for ideas on your next big or first ever eCommerce venture. In an upcoming post, we will take a look at some of the larger eCommerce businesses out there and how you can build your own.