Spooky spending! Scaring up a profit for Halloween

Here’s a scary fact. Halloween is reckoned to be the third most significant event in the UK retail calendar after Christmas and Easter, appealing to more than one in five households and representing a huge profit opportunity for retailers.

Cash and carries need to do their level best to encourage the convenience retailers they serve to capitalise on the big opportunity to increase sales this October. Here’s why, as seen by Mintel, the research experts.

First of all, Brits were on schedule to spend a terrifying £310 million on Halloween-related goodies in 2016, up 5% from £295 million in 2015, with a fearless 40% of all of us shelling out our cash on scary stuff. While 42% of those who treated themselves on Halloween products in 2015 spent less than £10, a quarter spent between £11- £25, and a fifth spent from £26-£50. What is more, a thrilling 6% of the nation’s Halloween purchasers spent a spooktacular £85 or more.

In particular, Britain’s Millennials, as in 16-35s, are devils when it comes to the spookiest time of the year. In 2015 Mintel reckon as many as half (50%) of Millennials spent money on Halloween. And while three in five (61%) Halloween purchasers enjoy taking part in Halloween, this figure rises to a blood curdling 71% of Millennials. Overall, around a third (32%) of Halloween purchasers spent more on Halloween products in 2015 than the previous year, increasing to almost half (48%) of Millennials.

Stocking and highlighting Halloween products and getting shoppers excited has a huge impact on sales, so it’s vital to help convenience retailers get creative, building displays with real visual impact and crucially, to start thinking about this well ahead of the Halloween rush.

Focusing on one product sector, Halloween is now firmly established as the second biggest seasonal event in biscuits, bought by over one million households.

Eating treats is an integral part of the Halloween occasion and retailers need to offer a spine tingling range to meet the Halloween requirements – keeping ‘trick or treaters’ at bay, giving the family lunchtime surprises and sharing at Halloween parties.

Research has shown that over two thirds of shoppers spend an average of £1 per pack on Halloween products, making stocking products with low entry price points really important.

The bottom line is, seasonal promotions for Hallowe’en are perennially popular amongst consumers. And with the rise in popularity of movie, TV and bookbased franchises like ‘Twilight’ and ‘Harry Potter,’ Hallowe’en is becoming even more important than ever. So don’t miss out!