Last year, we didn’t celebrate any festival like we wanted to. Even Halloween wasn’t much of a celebration. Thankfully, things have changed for the better, and retailers expect a wave of pent-up demand this time. Here’s an essence of what experts think could be the fate of Halloween retailers in 2021.
Stores
are Still a Preference
According
to data shared by stores like Target, Walmart, and Home Depot, customers still
prefer to buy Halloween stuff from the stores. They are selling out
pre-released Halloween products faster than anticipated.
Sales
are Better Than Pre-Pandemic Levels
According
to reliable data, the online sales for Halloween costumes and accessories have
gone up from not just last ever, but they are even higher than pre-pandemic
levels. The discount levels are also going up.
Halloween
home décor merchandise sale is also more than 2020 when people faced lockdown
restrictions and stay-at-home orders. Data says there has been a 108% rise in Halloween
home merchandise online.
This year,
the average discount is lower as retailers are trying not to hurt their margins
and want money to tackle inventory issues and higher inflation.
Trick or
Treat
Usually,
customers spend more on candy bars. Then they splurge in Halloween decorations
and then on costumes. This year also, the candy makers are expected to make a
lot of sales. The revenue from candy bars is expected to be higher than the
last two years. It proves that candy will be a favorite this year as well.
Hershey is
expected to post a better revenue than pandemic and pre-pandemic levels. In
fact, as per projections, the chocolate maker might see an increase in earnings.
Tootsie
Roll
Another
favorite Halloween candy is tootsie roll. It has been in business for more than
a century. The performance of this company has been low in the last few months.
It might increase as Halloween comes closer.
The
Essence
In essence,
it can be said that the sale of Halloween merchandise for 2021 is expected to
rise. It might even be higher than the pre-pandemic levels as people are moving
on from the pandemic phase and want to celebrate. The sales of merchandise will
increase in both online and offline models. The average discounts offered by
retailers have reduced as more and more retailers are focusing on increasing
their margins to get over the losses incurred in the previous two years due to
COVID-19 restrictions and low demand.
The early
shopping patterns of customers indicate that people are overexcited for
Halloween 2021 and are buying stuff they need with enthusiasm. A recent proof is
that Halloween stuff is flying off the shelves, and retailers are more focused
on re-stocking than ever. If this pattern continues, retailers might be able to
earn decently this holiday season.
If you are
a business owner who needs help with increasing Halloween sales, then here
are a few Halloween campaigns that might help you to boost sales this year.
When
looking for what products to sell, here are a few Halloween
craft ideas that might help.
by Shruti , BNS Business News
Source:
https://lipperalpha.refinitiv.com/2021/10/retailers-see-halloween-2021-as-more-fun-than-scary/