10/10/2022
The National Retail Federation anticipates Halloween spending will reach $10.6 billion in 2022, exceeding last year’s record of $10.1 billion. About 68% of consumers plan to participate in some sort of Halloween celebration, compared to 65% last year, 58% in 2020 and 69% in 2019.
Interesting to think that although many consumers are cash-strapped, costume spending is projected to hit a record $3.6 billion, including $700 million in pet costumes. But some aren’t buying off the shelf costumes but opting instead to get creative and go the DIY route.
According to Goodwill Industries International's latest annual Halloween survey, four in five Americans plan to celebrate Halloween this year (81%). Though many people plan to celebrate Halloween this year, more than three in five respondents to the Goodwill survey say that due to rising costs caused by inflation, they are more likely to create DIY Halloween costumes than purchase from a store. Additionally, 63% of adults are more likely to buy materials for DIY Halloween costumes or décor from thrift stores such as Goodwill to reduce costs.
A recent survey done by Big Village, also found that Goodwill stores top the list (89%) of favorite places to shop among those who prefer to look for materials for DIY costumes at thrift stores.
The survey also found that two-thirds (66%) of adults who prefer DIY costumes say they or members of their household turn to social media and websites for DIY costume ideas and inspiration. YouTube (28%) and Pinterest (26%) are the top-cited social media platforms for DIY inspiration, followed by Facebook (23%), TikTok (20%) and Instagram (19%).
Halloween is just one of the many holidays Medallion Retail knows how to throw a party for in-store. Visit our website https://medallionretail.com to see the point-of-purchase displays we create for retailers and brands at retail.
Happy Halloween!!
