Once limited to just pumpkins, candies, and a very few basic costumes,today Halloween has transformed into one of the major holiday event in the USgiving a major boost to its retail apparel sector.


Halloweenis the second most commercially successful holiday in the US, next toChristmas. October 31st is fast approaching, and retailers aregearing up for Halloween sales. A CNN survey states that during 2011 an averagehousehold spent $21.05 on trick-or-treat candy, and people have spent more than$2.5 billion on Halloween apparels. On an average, an American consumer spends$66.28 on Halloween costumes. Current year is predicted by US retail industryto generate more sales than ever as economy is recovering, and people havestarted spending on elaborate decorations, and exotic costumes.


Aretail bonanza:


Almost 7 out of 10 Americans plan to celebrateHalloween. Forecasts of National Retail Federation state that Americans willspend $8 billion on Halloween this year and a huge portion of this money wouldbe spent only on costumes. This is a 17.5% increase over the 2011 figures. Approximately$1.1 billion is expected to be spent on childrens costume, and $1.4 billion onadults clothing in 2012. An important element that boosts sales of Halloweencostumes is the 'Con' event in which people dress up as their favorite fantasyheroes.


Customershave allotted big budgets and are prepared to spend more on store bought, ready-madeapparels in place of handmade ones. Earlier during recession, consumers opted fordo it yourself costumes, which are currently replaced by readymade apparelswhich save time, and more accurately represent the character they desire. Heraldtribune.comreports Phil Rist, Executive Vice President, BIGinsight saying, "There'scertainly a pent-up demand for having some fun this year. Shoppers are planningto spend their hard-earned dollars on items that help them get into theHalloween spirit. "

C:\Documents and Settings\megha\Desktop\Halloween-costumes-kids-2012-cover.jpgClothing choice is one of the most essential parts of Halloween celebration. Clothing choice for the season will be based on witches, vampires, and trailing those would be the traditional choice of super heroes, zombies, and pirates. Popular television characters and public figures would also be imitated. Characters from the Avengers such as Captain America, Thor, Hawkeye, Batman, and Spiderman are also preferred. Retailers opt to enhance clothing sales by improving the quality of the fabric used to make Halloween costumes. Disney and Marvel costumes are more popular among children who go for trick or treat.


Social media plays a crucial role in increasing retail sales:


Generally, retailers use social media to enhance their sales. With much expectation on Halloween costume sales, social media is gaining more importance. A survey conducted by BIG insights confirm that major social media platforms are used to invite people ' s opinion in deciding which Halloween costume would be more preferred by people for the current year. Majority of the survey respondents expressed that they use Facebook to confirm their clothing choice with their friends. Much of the clothing sales during Halloween happen inspired by those using social media to share their ideas with one another. Online Halloween sales increased up to 15% in 2012.


Halloween costumes have become a growing part of retail success. What is yet to be seen is that whether the Halloween boom will be carried over with the same fervor to Christmas.


References:

  1. Cnbc.com
  2. Heraldtribune.com