This year, Halloween, which has remained a popular favorite holiday for many decades, falls on a Friday. This coincidence, along with many other factors, has lead to a substantial increase in Halloween sales.
According to a National Retail Federation Survey, with a rise from 65% last year, more Americans will dress up for Halloween this year than ever before. In addition, people are increasing their Halloween budget. The average person is willing to spend $77.52 as compared to $75.03 last year. With the aid of many external factors such as Pinterest inspiration and overall costume improvements, demand for costumes is predicted to rise this year. According to the NRF Survey, 40% of total Halloween expenditures will go toward costumes. Discounters like Walmart and costume shops like Party City are taking advantage of this rise in demand through fun promotions.
Overall, this provides an insight to consumer behaviour. My analysis shows that through advertisement and social media, a single event can go through massive change. I believe that what the survey predicts will come true, since Halloween has been anticipated with elation even more than last year.
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