The latest forecasts from consumer research company Mintel predict that the UK will spend £419 million on celebrating Halloween in 2018, up by 5% from the £400 million spent in 2017.
More than half (52%) of all Brits joined in with the Halloween spirit in 2017, with that figure rising significantly for key demographics such as millennials (77%) and parents of under-fives (85%). Of those that join in, more than half (56%) say they enjoy taking part in Halloween activities, although 43% admit that the cost of holding a party puts them off hosting.
How much people choose to spend also varies. A quarter of those who celebrated the season (25%) spent between £10-£25 on Halloween last year, while almost the same number (24%) spent less than £10. A not-insignificant 17% spent between £26 and £50.
Around one in seven (15%) spent at least some of that money on fancy dress, while 14% splashed out on decorations and 11% purchased special food and drink for the home. However, 40% of respondents bought sweets for trick-or-treaters, regardless of whether or not they celebrate Halloween themselves.
Around 40% of Halloween purchasers use social media for inspiration, while for half (50%) of Halloween purchasers, shopping for the big night remains a last-minute rush. Other ways that consumers are keeping down costs includes reusing Halloween costumes and decorations they already have – some 75% of people plan to take this eco-friendly approach.
“Halloween continues to grow in popularity benefiting from the booming leisure market, and is a perfect opportunity for retailers to create experiences for customers,” said Chana Baram, retail analyst at Mintel. “Once again, sales are set to increase as retailers dedicate more shelf space and merchandise to this key seasonal event.”
“There has also been an increase in events and Halloween-dedicated stores this year, as well as increased focus on more high-value items such as make-up and fashion,” Chana continued. “A number of supermarkets also have Halloween party ideas featured on their websites, including money saving tips… in an effort to inspire consumers on a budget to celebrate as well.”