October 31st is creeping up, and it’s anything but hocus pocus for the retail industry. Halloween sets the tone for the winter holidays – indicating how retail sales will fare from Thanksgiving to the New Year.
This year, the National Retail Federation projects that consumer spending will be on par with 2018. The 68% of Americans who plan to celebrate the holiday are expected to spend $8.8 billion.
“Spending hasn’t changed much over the past few years, but we are seeing a noticeable increase in consumers whose Halloween purchases are inspired by their friends, neighbors and even celebrities on social media,” said Matthew Shay, President and CEO of the NRF in a press release.
And most consumers are still on the hunt for inspiration for costumes, decor, and party food. The majority of people plan to start shopping in the first two weeks of October.
This gives marketers ample time to get to work and capitalize on the Halloween demand. As you start building your campaigns, here are a few relevant stats to keep in mind.
1. Consumers are hungry for inspiration
Friends, family, and celebs play a huge role in influencing people’s costume ideas, but retailers have some pull too. In the NRF’s annual Halloween survey, 28% of people said they plan to gather Halloween inspiration from retail stores.
Consumers want your help as they decide what to buy for all hallows eve, so make sure to deliver.
One of the easiest ways to do this is to aggregate relevant user-generated content from last year and deliver it straight to shoppers’ inboxes. If you partner with influencers – even better. Feature that content within emails to help consumers visualize what they can achieve with your products.
2. Men and Xennials plan on spending the most
Although men (67%) are slightly less inclined to celebrate Halloween than women (69%) – they will be spending more on average, according to the NRF. Male consumers anticipate they will spend an average of $96 on Halloween supplies compared with their female counterparts who are budgeting $20 less for the holiday.
When it comes to age, the 35- to 44-year-old demographic will outspend any other group. They will spend an average of roughly $111 on Halloween this year.
These stats point to one takeaway: Don’t put any demographic on the backburner. Segment your audiences and make sure that you’re delivering relevant content that speaks to their interests. Regardless of the demographic, people are looking to be inspired, so compelling visual content will come into play.
3. Play up your cultural relevance
This may come as no surprise, but the No. 1 trending party theme this year, according to Pinterest, is “Stranger Things.” (It’s also the No. 1 idea for group costumes.) If your brand doesn’t dabble in the Upside Down, no worries. Other trending search queries include “Boho Halloween decor” and how to throw a Halloween party in a garage.
Get a feel for what consumers are talking about, and if your brand offers culturally-relevant merchandise – feature it front and center. Let consumers know you’re on top of the latest trends and that you can help them stand out among their friends this year.