Early Shopping, Love for Halloween Drives Increased Spending
- Halloween spending predicted to reach $11.6 billion in 2023
- NRF predicts increase from $10.1 billion in 2021
- 48% of shoppers buy seasonal items early due to excitement for fall
- 38% avoid last-minute stress
- 56% of 25-34 age group start shopping before October
- Love for Halloween drives early shopping trend
- Amazon searches for adult costumes spiked 395% in August 2023
- Spirit Halloween to open record-breaking 1,525 locations
- Retailer hiring 50,000 seasonal sales associates and store managers
The National Retail Federation (NRF) predicts a rise in Halloween spending this year, with consumers expected to spend $10.6 billion on the holiday compared to $10.1 billion in 2021. The NRF survey reveals that nearly half of shoppers buy seasonal items early due to their excitement for fall, while 38% avoid last-minute stress. Early shopping is particularly popular among the 25-34 age group, with 56% starting before October. Phil Rist, Prosper Executive Vice President of Strategy, notes that love for Halloween drives this trend. Last year, Amazon saw a 395% spike in adult costume searches in August. Spirit Halloween plans to open 1,525 locations and hire 50,000 seasonal staff.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Halloween spending trends, consumer behavior, and the growth of Spirit Halloween locations. It cites sources such as the NRF and Jungle Scout reports to support its claims.
Noise Level: 3
Noise Justification: The article provides some relevant information about Halloween spending trends and early shopping habits but lacks in-depth analysis or actionable insights. It mostly reports on the predictions and trends without questioning their implications or exploring the reasons behind them.
Financial Relevance: Yes
Financial Markets Impacted: The article mentions the National Retail Federation’s (NRF) prediction of increased Halloween spending, which could impact retailers selling Halloween-related products. It also discusses Spirit Halloween’s expansion and hiring plans, affecting their financial performance.
Financial Rating Justification: The article discusses consumer spending on Halloween, which is a financial topic, and mentions the impact on specific companies like NRF and Spirit Halloween.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
www.retaildive.com