Consumer Halloween spending may have a surprise for retailers

Monday, 30 September 2024

Consumer Halloween spending may have a surprise for retailers

by BD Banks

Spirit Halloween, the largest Halloween retailer in the United States, revealed the costumes consumers are snatching up this fall and Hollywood is having a major influence.

Characters in the Marvel movie “Deadpool & Wolverine,” which back in July had the best opening ever for an R-rated movie, are still fan favorites and driving costume demand. Costumes for pets, especially Dogpool and Ladypool, are also popular this year.

For families interested in group costumes that are more G or PG rated, characters from “Inside Out 2” — Anxiety, Sadness and Disgust — are making retailers happy. “Inside Out 2” was the year’s highest grossing film to date.

A couple is seen dressed in costume from the movie Beetlejuice.

Jackson Lee/GC Images/Getty

And of course there is no movie more appropriate for Halloween than “Beetlejuice Beetlejuice” and Spirit has the cult-classic characters costumes for Beetlejuice, Lydia, Astrid in several iterations.

Last year the most popular costumes were Barbie and Spiderman, according to Google’s (GOOGL) Freightgeist tool (which has a “costume suggestion” feature if you happen to be in the market for a costume for 2024).

“Halloween isn’t just a holiday – it’s all about where each person’s imagination can take them, and we can’t wait to see how our fans take these trends and make them their own this year,” said Steven Silverstein, CEO of Spirit Halloween, in a press statement.

More Halloween:

For those who don’t want to dress up as movie characters, there’s always Mob Wife, Country Chic, and don’t forget Travis and Taylor.

“Halloween fans visit Spirit Halloween year after year because they can find the hottest looks of the season — and our selection for 2024 will not disappoint. Whether you have a character in mind or are looking for inspiration, our assortment of costumes and accessories for the whole family offers endless combinations and a world of possibilities” Silverstein added.

Overall Halloween spending expected to be lower this year

Halloween is big business for retailers. Consumers will spend around $3.8 billion on costumes this year, according to the National Retail Federation (NRF). They’ll spend another $3.8 billion on decorations and $3.5 billion on candy for a total of $11.6 billion. That’s around 5% less than the $12.2 billion spent last year.

Every year the NRF survey consumers about their retail spending plans. This year the organization noted that 47% of survey respondents said they planned to begin their Halloween shopping before October.

It’s not necessarily kids who are dragging their parents to stores like Spirit. “Interest in early Halloween shopping continues to be dominated by the 25-34 age group, with 56% of shoppers in this group kicking off their shopping before October,” said Phil Rist, executive vice president of strategy at Prosper Insight & Analytics which works with NRF on survey data. “Their love of the holiday is a key factor in this trend, with nearly half of this segment sharing that they plan to shop early because Halloween is their favorite holiday.”

Seventy-two percent of consumers plan to celebrate Halloween this year, consistent with last year’s record of 73%. Top holiday activities include handing out candy (67%), decorating their home or yard (52%), dressing up in costume (49%), carving a pumpkin (43%) and throwing or attending a party (29%).

Spirit has 1,525 locations in strip centers and malls across North America. Spirit stores are seasonal — they are usually open for 60-90 days starting mid-August — and the stores take over vacant retail space.

Spirit’s parent company, Spencer Gifts, is owned by Palladin Consumer Retail Partners, a private investment firm headquartered in Massachusetts.