Happy Halloween from the Stitch Labs team! We know most retailers are focused on the holiday shopping surge that’s sure to take off in the coming weeks, but there is also a lot of opportunity for retailers to capitalize on the spookiest day of the year.
When the parties are over and all the candy has been passed out, consumers will have spent $8.4 billion on Halloween this year—a $1.5 billion increase in spending from last year. With 171 million Americans partaking in Halloween festivities, it’s a huge spending holiday.
While Halloween may not be moving the needle for all retailers, items like costumes and decorations can be purchased from unexpected places like home improvement stores (5 percent), home decor stores (8.9 percent), and drug stores (9.4 percent).
With 17 percent of people using Pinterest to find inspiration (up 133 percent since 2012), costumes are more creative than ever and might require numerous purchases from different stores. Even if you don’t sell costumes or decorations in the traditional sense, try to brainstorm creative ideas with your inventory and post these ideas to social media with deals. Eighty-six percent of female consumers agree with the sentiment, “social media content has become a chief source of online research when I’m thinking about making a purchase,” so use that to your advantage.
For more ideas on how you can cash in on Halloween sales, check out the rest of The Shelf’s infographic here.
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