New research from product intelligence business Vypr has found that only 35% of shoppers feel they can afford Halloween expenses this year, with 20% planning to cut back significantly compared to previous years. While 34% intend to spend about the same, just 16% anticipate spending more.
Meanwhile, 45% of consumers still plan to buy decorations, but most will allocate just £1 to £10, highlighting tighter budgets. The sweets category is expected to see the highest sales, with 59% of shoppers planning to spend on them for trick-or-treaters. Notably, 16% are budgeting £5-10 for sweets, reflecting a continued appetite despite economic pressures.
Ben Davies, founder of Vypr, said: “Retailers which have extensive ranges of costumes and Halloween decorations this year could end up with considerable surplus stock due to the continuing nervousness of consumers to spend. While plans will already be underway, those who discount early could benefit from the cost-conscious shopper in order to help shift stock.
“Most consumers will be entertaining at home or visiting friends for parties this year. This creates a prime opportunity for retailers to cross-sell alcoholic and soft drinks, as well as party food, which could help boost sales if costumes and decorations see a decline.”
