Happy Halloween Everyone! While you get your perfect costumes and party plans in order, we wanted to take a moment and embrace the holiday from a marketing perspective.
Millennials are driving sales records this year! It’s official, more events/attractions, retailers and liquor and beer manufacturers are taking notice and targeting the 21-34 year old crowd.
In fact, Halloween 2017 is looking to be an all around record-setter for consumer spending, 179 million Americans are estimated to be celebrating which is up 8 million from last year.
Halloween candy sales for 2017 are expected to reach $4.1 billion, while retail sales will hit $9.1 billion that’s up from $8.4 billion in 2016! The average person will spend $169.81 on Halloween this year according to a LendEDU poll. This same study found that costume spending takes up 42% of this budget…with 16% of Americans planning to dress their pets as well.
It’s safe to say retailers are excited, if this is any indication for the holiday spending climate this year, there’s no telling how much larger it could grow.