Halloween 2024 Biggest Yet
Retailers, are you ready for the biggest Halloween yet? Here are trends you should be watching.
Some Halloween shoppers stocked up on candy weeks ago. Others are waiting for the last minute in hopes of a deal — and, perhaps, to replace candy they may have eaten already.
Such are the spooky and scary variables of Halloween retail. As retailers anticipate the largest Halloween selling season on record, they should plan accordingly in order to accommodate different shopping sensibilities in these precarious economic times, according to the latest research from Advantage Solutions.
While many shoppers are responding to early calls to action, particularly for costumes and decorations, a large percentage will make up those last-minute buyers who are still picking up candy in the days leading up to October 31.
Based on data from the recent Advantage Outlook survey of Halloween shoppers and insights from Advantage Unified Commerce (AUC), a division of Advantage Solutions, here’s what retailers and CPG companies can expect this Halloween season — and ways to capitalize on the latest trends.
Recession-busting
Over the past four years, Halloween — like many other holidays — has proven to be a resilient investment for both retailers and consumers, even amid economic uncertainty.
“This phenomenon is particularly pronounced as consumers prioritize moments of joy, nostalgia and communal experiences to offset the challenges of daily life,” says Kelly Ravestijn, Senior Vice President of Commerce Intelligence at AUC.
Although Halloween may not face dramatic downsizing, Ravestijn says there may be a shift in how consumers allocate their spending.
Instead of cutting back entirely, consumers might redirect funds from premium experiences or décor to core necessities like candy and costumes. This presents a critical opportunity for retailers to offer value-based promotions or to highlight multi-use products that give consumers more bang for their buck. Brands and retailers can lean into this trend by offering tiered pricing strategies and bundled products that provide cost-effective solutions without sacrificing the festive experience.
Catching the early bird
According to the Outlook survey, Halloween shoppers typically hold off on their candy purchases until closer to the event — many within seven days of Halloween — in the hope of scoring last-minute deals. But these same consumers also shop earlier for items like costumes and decorations, offering retailers an opportunity to integrate candy sales into those purchases.
“Retailers can drive earlier purchases by offering candy as part of bundled deals with costumes and décor, creating themed assortments that encourage early shopping,” Ravestijn suggests. “By offering early-bird discounts and exclusive candy assortments, retailers can capitalize on consumers’ fear of missing out on limited-edition items and generate candy sales earlier in the season.”
Let’s be clear, though: Some 70% of shoppers plan to buy candy within seven days of Halloween.
And retailers must be ready to capture the surge. By offering targeted flash sales, bundling discounts and loyalty rewards closer to the holiday, retailers can attract these price-conscious shoppers. Well-stocked shelves and eye-catching displays in the final week are crucial to driving impulse buys as consumers rush to finalize their Halloween plans, Ravestijn says.
Repeat purchases
Sometimes the candy purchased doesn’t make it till Halloween, as consumers tend to snack on those sweet treats on hand — offering retailers a prime opportunity to boost sales.
Here’s a fun fact: More than half of shoppers will buy candy multiple times throughout the Halloween season.
To maximize this trend, Ravestijn says, retailers should strategically time their promotions. “Offering bundled deals or discounts on popular candy brands early in the season can drive initial purchases, while launching special offers closer to Halloween will cater to those stocking up for trick-or-treaters,” she says.
Retailers can implement staged promotions that reward repeat visits, such as discounts on the second or third candy purchase. Multi-tiered loyalty programs that offer free products or special discounts after multiple purchases could further incentivize shoppers to return. In addition, they can also promote “pre-Halloween snacking” by highlighting snack-size options meant for personal indulgence in the weeks leading up to the holiday.
Gearing up for Halloween
As Halloween has transformed from a single day or weekend into an entire season of festivities, the selling season has grown longer and more complex. For retailers and CPG brands, the support of a partner like Advantage, with its breadth of omnichannel services and capabilities, can help them capitalize on the opportunity.
“Consumers are celebrating through themed events, buying decorations, candy, food and beverages, and planning or attending activities that span the entire month leading up to the big night,” says Christi Geary, Executive Vice President of AUC.
“We help retailers and brands identify emerging trends, optimize product placement and execute effective in-store and digital campaigns that maximize engagement with shoppers and boost profitability during the Halloween season.”
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