ICSC puts Halloween-related spending at $11.4 billion
New York -- Nearly three-quarters (74%) of U.S. households plan to spend money on Halloween-related items, according to the International Council of Shopping Centers (ICSC) Halloween Consumer Spending Survey. The total for Halloween-related spending is expected to be approximately $11.3 billion in 2014.
Excluding households that don’t plan to spend anything on Halloween, the average household plans to spend $125 this year on candy, costumes, decorations or other Halloween-related items. Eight-out-of-10 households plan to spend the same or more on Halloween compared to last year, with
Similar to ICSC’s back-to-school shopping survey, the Halloween survey indicates that sales and promotions will be the biggest factor in the decision to shop at a particular location for Halloween-related items. When asked what influences them the most when choosing a store for Halloween, 64% of consumers said sales or the lowest price, 31% said the ability to physically see, touch or try on the merchandise and 29% said convenience/one-stop shopping/good parking.
The focus on price, along with an interest in one-stop shopping, could account for discount stores claiming the top spot this Halloween: 34% of spending will take place at discount stores; behind discounters, supermarkets are expected to grab 18% of purchases; followed by clothing and costume stores (13%); drugstore chains (11%); and wholesale clubs (9%).
Overall, according to the survey, more than 90% of households will select brick-and-mortar retail stores as the preferred venue for Halloween shopping, and online is expected to see a 7% share of purchases.
Researching and planning ahead online before buying in-store continues to be an integral part of the shopping experience this fall, with 41% of households planning to participate in ‘webrooming’ – researching online before purchasing Halloween-related items in physical stores.
In addition to being a significant shopping destination for Halloween-related items, shopping centers and malls continue to evolve into community hubs. Out of the parents planning to take their children trick-or-treating this year, 17% will participate in a Halloween event sponsored by a mall or shopping center in 2014, in addition to more traditional neighborhood trick-or-treating and school events. The top costume for boys this year will be a superhero and the top costume for girls in 2014 will be a princess.