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-- 339.660 Bull Session | Halloween Is a $10B Business Now. Do You Plan to Spend Money on the Holiday?
Halloween is coming next monday, and we guess the people around your home have already started to decorate the house. ![]()
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Halloween decorations and related activities are getting more popular in the US. The growing business creates a lucrative opportunity for retailers such as $Walmart (WMT.US)$ and $Home Depot (HD.US)$, also for e-commerce like $Amazon (AMZN.US)$ and $PDD Holdings (PDD.US)$.
The level of participation in Halloween activity seems going to rebound to the pre-pandemic level in the US. 69% of consumers will prepare for holiday activities this year, compared to 65% in 2021 and 68% in 2019, according to the National Retail Federation (NRF)'s annual survey with more than 8,200 participants. NRF is expected Halloween spending in 2022 will surpass last year and reach a record of $10.6 billion.
Halloween is an exciting time for many families, and that enthusiasm is reflected in the number of Americans who plan to celebrate the holiday this year.
As consumers continue to return to pre-pandemic behaviors, retailers are prepared to meet that demand and help make this holiday a fun and memorable one.”
--- NRF President and CEO Matthew Shay said.
Over Half of consumers plan to celebrate the holiday include handing out candy (67%) and decorating their home or yard (51%). Also, 47% of consumers will dressing up in costume and 44% of them plan to carving a pumpkin.
If we look into spending, costumes and decorations will lead consumer budget. Costumes will make up the largest category of spending, with kids and adult costumes projected to hit a record of $2.9 billion. Surprisingly, pet spending is also expected to reach a new high of $710 million. US consumer love pets, they are expected to spend more on it.
With the increasing demand for holiday products, retailers have started to prepare the Halloween supply as early as the summer this year in response to holiday sales'early kick-off, according to the business journal Retail Dive.
I think what you've seen in the last decade is fourth quarter promotions starting earlier and earlier and earlier. It gives the retail community more opportunity to market and promote Halloween as a festive holiday, and it's moved from the candy aisle in the grocery store to home and more mainstream mall-based retail.”
--- Matt Katz, a managing partner at SSA & Company, told Retail Dive.
The big-box retailers are stocking shelves deep with seasonal items. Here are some samples collected by Retail Dive:
$Home Depot (HD.US)$: increased its overall Halloween and fall assortment to 861 products during September and October compared to 418 in the same period last year.
$Walmart (WMT.US)$: carrying 3,335 fall and Halloween products.
$Target (TGT.US)$: having 197 Halloween products.
$Home Depot (HD.US)$: increased its overall Halloween and fall assortment to 861 products during September and October compared to 418 in the same period last year.
$Walmart (WMT.US)$: carrying 3,335 fall and Halloween products.
$Target (TGT.US)$: having 197 Halloween products.
Big retailers like $Lowe's Companies (LOW.US)$, $Kohl's Corp (KSS.US)$, and $Bed Bath & Beyond Inc (BBBY.US)$; discount store $Dollar Tree (DLTR.US)$ and $Dollar General (DG.US)$; e-commerce $Amazon (AMZN.US)$ and $PDD Holdings (PDD.US)$'s Temu, also have special session for seasonal merchandise. They are using the holiday to drive more traffic for the store and the website, gaining from the $10 billion business.
However, inflation issues may break shoppers' illusion of holiday gain. People may not actually spend that amount of money to celebrate the holiday. The US inflation data shows the cost of sweet treats was up 13% year-over-year before the holiday started, along with the US CPI reaching a 40-year high in September.
Twix is up a whopping 53%, Skittles has jumped 41%, and Reese's has risen 35% over last year, according to Datasembly's data collected by Bloomberg. Even with holiday discounts, the prices of candy still have a significant increase this year.
Twix is up a whopping 53%, Skittles has jumped 41%, and Reese's has risen 35% over last year, according to Datasembly's data collected by Bloomberg. Even with holiday discounts, the prices of candy still have a significant increase this year.
Datasembly CEO Ben Reich commented that the jump in prices was caused by logistics issues, energy costs, and short supplies of some ingredients. While US Senator Bernie Sanders argued that the level of the price rise was mainly caused by 'corporate greed.’
So mooers, what is your plan to spend on the holiday? Which store you would go to purchase the products?
Source: NRF, Retail Dive, Bloomberg, Twitter
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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mommymoney : Thank you for this write up. Learning what to think about to decide investing opportunities.
GOGO Power Rangers : The market is not good
plucky Kangaroo1 : Buncha Sweets
RDK79 : Not this year.
ARISMENDEZJEREMIAH : Yes if I had some
71750344 : We are just buying candy for the kids, even though the price is high. We'll do without something just so the kids can have a fun time. Prices are so high on everything, we wished that they would have canceled Halloween. Being retired it's need or greed, necessities or luxury with our choices.
70185181 : The money of retail investors has been taken clean by the US government. There's no money at all for the holidays. Only people in the US Congress and the Wall Street Foundation have money to party. They all have inside information, and all of their stocks can be sold at the highest point and bought at the lowest point.
Racehorse : For me..its a waste of money..