…We Shouldn’t Underestimate the Importance of Halloween
1. According to the NRF 2007 Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch, consumers are expected to spend over $5 billion during the Halloween period, up from $3.3 billion only two years ago. Despite not being a gift-giving or apparel holiday, Halloween ranks firmly as the sixth-largest spending holiday after Winter Holidays, Valentine’s Day, Easter, Mother’s Day and Father’s Day.
2. Halloween is the backbone of the candy industry. Consumers will spend over $2 billion on candy this Halloween, with an average spend of $19.84. Based on a survey by The Nielsen Company, five of the top ten sales days in 2006 occurred during the run-up to Halloween. (Click here for a list of the Top 10; just scroll down the page a bit.)
3. The Halloween Effect. While largely ignored by the academic community, the theory holds that the period from November to April has significantly stronger stock market growth on average than the other months. (It also gives rise to the investment idiom, “Sell in May and go away.”) According to one study, “In more than two-thirds of all sectors and industries this difference in summer and winter returns, know as the Halloween effect, is statistically significant…” Buy, buy, buy!!!
4. Finally, think of the children! Over 93% of kids go trick-or-treating each year, with 84% ranking candy and gum as their favourite treats. Makes you wonder what the other 16% want. Money? (The same survey also notes that over 90% of parents admit to stealing candy from the kids, so maybe it’s not just about the children after all.) Giving kids the chance to use their imagination, dress up, make believe and have some fun should never be underestimated.
For more Halloween fun, check out History.com’s History of Halloween and here for some trivia. And here for safety tips. Happy Halloween, everyone!
