In 2016, Halloween sales was said to be a record. And retailers expecting the same record setter in 2017 from holiday shoppers. Americans spend their money for household purpose and holidays increasing day by day.
2016 ( billion) 2017(billion)
Holiday spending $7.5 $ 9.1
Household spending $82.93 $86.13
A survey from recent Citibank poll published that the millennials( A person reaching young adulthood in the early 21st century) who driven the growth in halloween sales. They expect to spend 2.5 times more than their closest cohorts on Halloween-related merchandise.
An article from CityBank state that the Increased millennial spending comes despite the fact that the demographic is the one that most needs to save money. Americans especially millennials should be more concern about the capital that they spending in seasonal festivals like halloween.
NRF Director Mr Allison Zeller wrote“Halloween is no longer just for the kids and those with kids”.
Recent NRF survey indicate most of the participants in Halloween-themed party will be adults between 21 and 34 years of age. The reason for this NRF noted that the increased influence of popular culture on the holiday.
The Los Angels reports that the millennials are infatuated with the late October celebration and other seasonal festivals have begun complementing their attractions — once targeted primarily at children later it also more popular among adults.
Many alcohol manufacturers and retailers run Halloween promotions. Millennials represent approximately 32 % of spirit consumption, though they only comprise about one-quarter of the total U.S. population over age 21, it makes sense that makers of adult beverages lean into the holiday.
Christopher DunnMast-Jägermeister’s U.S. said “Halloween is a huge occasion for 21- to 29-year-olds,”
Retailers making profit in Halloween not only from Liquor sales and adult costumes but also from spending on pet costumes.
According to NRF survey, 16 % Americans expect to dress their pets for the holiday and it is doubled since 2010.
Halloween retail is setting new records year-over-year. If the next generation embraces the holiday with the same fervor as millennials. There’s no telling how much larger Halloween could grow
Sometimes someones goodness will be threat to anotherone’s life. Halloween make retailers rich but it badly effect the millennial’s life.