Out with the old and in with the new doesn’t apply to everyone’s Halloween costumes this year.
Halloween isn’t just about the candy. People are going all out on Halloween decorations, costumes (for themselves and their pets), and holiday parties. In fact, the National Retail Federation expects total Halloween spending to hit $8.4 billion this year, an increase of $1.5 billion since last year.
With the lofty price of Halloween costumes, it’s unsurprising that shoppers could spend close to $83 on this holiday alone. However, not everyone is willing to buy these expensive store-bought costumes:
Overall, 20% of consumers are planning on dressing up this Halloween, while 11% are still undecided. Of those dressing up, more people will make a costume than buy a new costume.
We uncovered several interesting insights about those who plan to dress up:
- Overall, women are more likely to dress up this Halloween.
- Those planning to dress up and those who are undecided tend to be younger.
- Consumers who closely follow trends in the TV and movie industry are more likely to plan to dress up this Halloween. Maybe this is why Harley Quinn and the boys from Stranger Things are popular costumes this year.
- Those who plan to dress up are likely to listen to the paid version of Pandora’s music streaming service. On the other hand, those who aren’t sure whether they will dress up are more likely to listen to the free version of Pandora.
- Those who get fashion inspiration from social media are 5X more likely to say they will make their costume. I wouldn’t be surprised if they are searching social media for costume ideas.
As the DIY movement is becoming more popular, and the price of Halloween costumes can be over $50, more consumers are opting to make their own costumes than buy new. However, when looking at last year’s numbers, it doesn’t look like there has been much change. The only thing that has changed is that slightly more consumers will be dressing up this year than last year. So it isn’t surprising that Halloween spending is predicted to increase, and spending may continue to increase in the future if this trend continues.