Spook-tacular Halloween Sales Expected This Year
New York, NY (PRWEB) October 17, 2014 -- Celebrations, costumes and candy will drive sales this Halloween season. While the government shutdown spooked consumers from Halloween festivities last year, improving economic conditions and employment levels are expected to boost Halloween sales 3.4% in 2014, to total $7.29 billion. Moreover, with Halloween falling on a Friday this year, fewer consumers will be passing out candy, opting instead to celebrate by hosting or attending a party. Costume sales are consequently expected to reach record highs this year, as shoppers search for the perfect costume to impress friends and post on their Facebook and Instagram accounts. In an increasingly digital world, popular blogs and sites like Pinterest will haunt consumer purchase decisions and encourage an estimated one-fifth of consumers to shop for decorations and other Halloween items online this year. Shoppers will also aim to satisfy their sweet tooth with healthier, all-natural treats to beat the preseason bulge.
Costumes
According to IBISWorld Industry Analyst Britanny Carter, “Costume sales are projected to grow to an all-time high this year, thanks to a greater number of Halloween parties spurred on by growing disposable incomes.” Moreover, popular photo-sharing applications are encouraging consumers to purchase top-notch, upload-worthy costumes. In fact, partygoers attending multiple events are investing in several costumes to diversify their social media portfolios. Costume sales are consequently expected to rise 5.6% this year to $2.76 billion.
Candy
Candy is the second-largest expenditure among Halloween shoppers. However, fewer consumers will hand out candy this year, and many are opting for healthier alternatives, decreasing the total number of candy shoppers in 2014. Nevertheless, those opting to purchase candy are expected to spend record highs this year. As a result, candy sales are anticipated to rise 4.4% in 2014 to $2.34 billion. Price-premium candies that boast health benefits have grown increasingly popular among consumers in light of rising health concerns. In response, the Candy Production industry is increasingly shifting to all-natural and sugar-free products, which will account for a larger share of trick-or-treater loot this upcoming Halloween. For example, confectionary newcomer Unreal mimics popular candy favorites without the artificial flavorings and high fructose corn syrup found in most sweets.
Decorations
“With fewer consumers at home giving out candy, the number of shoppers purchasing home and yard decorations is consequently forecast to decline this season,” says Carter. Improved disposable income, however, is expected to increase the amount spent per customer and boost sales 0.4% to $1.85 billion. The prevalence of social networking sites that highlight unique decorating ideas, like Pinterest, will encourage consumers to purchase a wider array of decorations.
Greeting Cards
Unlike other Halloween items, greeting card sales are expected to decrease 3.8% during 2014 to $0.34 billion. While artisan and sound-enabled cards at premium prices have aided sales in recent years, the Greeting Cards industry has been slowly contracting over the past decade due to the rising popularity of e-cards and social media posts. Moreover, Halloween is less family-oriented than other holidays, and cards are not as traditionally expected as they are during other seasonal celebrations, such as Christmas.
About IBISWorld Inc.
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Gavin Smith, IBISWorld, +1 (310) 866-5042, [email protected]
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