I’ve seen some media coverage recently about the fact that shoppers are cutting Halloween spending to the bone in this frightening economy. From costumes to decorations to candy, people on the prowl for bargains.
In fact, a recent article cited these statistics:
“Nearly nine of 10 consumers -- 86 percent -- said they will spend less or the same on Halloween this year, according to a survey by Corporate Research International, a retail consultant.
About half (49 percent) said they would spend no more than $50 on costumes, candy and decorations. Only 12 percent of shoppers expect to spend more than $100 and fewer than one in four (22 percent) will buy decorations.”
But it turns out the area where they are MOST likely to spend is candy. This same article stated,
“While shoppers are buying more generic and private-label products at the grocery store, they are still opting for name brands when they buy Halloween treats, according to a report by the Nielsen Company.”
Unless all of these are brand name promotions and price reductions – which I don’t think is the case – that means that even when cash is scarce, people will STILL turn to brands that they trust.
This represents a missed opportunity for retailers, but one that can be remedied. Whether retailers bring well-positioned store brands to market, or they license a brand that can catapult them there, it’s obvious that Halloween can be treats instead of tricks for savvy retailers.
What about you? Do you splurge or save when it comes to Halloween?
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