Halloween Revenue of 2016
By Kaitlyn Boelter-Eberhardt
Halloween, the night of October 31st and the Eve of All Saint’s day, is the night commonly known for children dressing up in costumes of their favorite characters or people and a night for a massive exchange of candy between children and home owners. Along with this comes the need for a costume, candy, decorations, and more in order to create the Halloween of most families in the United States. This is the tradition of millions of people and the tradition continues to grow as more and more people take it on.
This Halloween there is expected to be a major increase in the supply of Halloween goods in order to keep up with an equal increase in the demand for these products. The estimated number of spendings in the Halloween duration is estimated to reach 8.4 million dollars, which will be the highest in the National Retail Federation history, from the estimated 6.9 billion last year. The expected average of spending per person this Halloween in the United States is $84.93. This is a significant rise from last years $74.34 in spendings. A survey by the NRF tells us that this year's Halloween shoppers are planning to spend $3.1 billion on costumes, $2.5 billion on candy, $2.4 billion on decorations, and $390 million on greeting cards and such things. This shows the true opportunity cost in spending for the joy of celebrating and the trade-offs instilled in the decision for the shoppers to spend their income on this holiday rather than something else.
Overall, this year Halloween revenue will have an increase in supply and demand for goods all over the United States with an estimated total in spending at $8.4 billion, a $1.5 billion increase. All this in order to create the true traditional idea of Halloween in each American home with their costumes, candy, decorations, and more.
Works Cited
Garcia, Tonya. "Halloween Spending Expected to Reach $8.4 Billion, the Most in NRF Survey
History." MarketWatch.com. N.p., 22 Sept. 2016. Web. 3 Oct. 2016.
<http://thesourceworldbeat.com/intelligence-feeds/global-intelligence-feed-analytics/>.
"Halloween 2015 by the Numbers." CNN. Cable News Network, n.d. Web. 03 Oct. 2016.
<http://www.cnn.com/2012/10/30/living/halloween-by-the-numbers/index.html>.
"Halloween Statistics & Trends." Fundivo.com. N.p., n.d. Web. 3 Oct. 2016.
<https://www.fundivo.com/stats/halloween-statistics/>.
Halloween is a major industry to be a part of, I just never knew it brought in that much income. It is amazing how much people spend to make it a special night for their children or other Halloween lovers. Parents want to make sure their child is happy with their costume, so sometimes they don't even think of the expense, but rather if their child likes it or not. This price really adds up quick. Their are also people who want to make sure their house is the best, so they spare no expense in decorations. Even at Halloween, competition in best house or best costume heavily impacts the economy because of the numerous purchases people make to ensure that they will have the best house or scariest costume.
ReplyDeleteLike the previous comment, I am also surprised by how much total revenue Halloween brings up. Some people like to have excess decorations and extreme costumes, which increase total revenue. If Halloween has this much expenses, I could only imagine how much greater the total would be for Christmas shopping and decorating is.
ReplyDeleteDue to the yearly increase in consumers in the United States, the Halloween industry has the potential to continue to grow. This would cause an increased demand for candy, costumes and decorations which in turn is reflected by the chart. Celebrating Halloween with costumes and candy and decorations are normal goods, and the fact that median incomes in the United States are increasing shows that as it goes up, the demand for Halloween related products goes up which in turn boosts the total revenue that this holiday brings in.
ReplyDeleteMost of us reading this probably didn’t know that Halloween made so much money. But it is very understandable why it is going up in sale numbers. Just from last year I have seen candy prices jump almost 4 dollars which is crazy to think about. Now I haven’t actually celebrated halloween for a solid 5 years now, but when I do personal shopping trips I always like to see how expensive things are, and I see that prices for costumes and candy keep rising up even though the same costumes have been made several times. But another reason halloween sales may be skyrocketing is the acceptance of geek culture too. This means that more conventions about things people like are popping up. And people love to dress up as their favorite characters at the time of a convention. So they get supplies that they need now to get working on something for the next year. And with all that spending you see the amount given to companies jump exponentially.
ReplyDeleteI never realized how much income Halloween brought in. I was not expecting it to be that much. It is interesting to see how over the years the prices of candy, costumes, decoration etc. and this rises the total revenue. Overall it is interesting to see how such a small holiday can bring in so much money.
ReplyDeleteAfter reading this, all the numbers seem almost too big. But after thinking about how expensive candy is, it makes sense. Also, I've noticed that costumes are getting a lot more expensive. But people are willing to pay the price for the costume and candy to keep the tradition going. I never really thought about how expensive Halloween actually is, but after seeing the statistics, it really puts things into perspective. Another thing to take into consideration is the fact that parents are willing to pay whatever amount for a costume for their child, as long as it makes them happy. Maybe not all parents, but the majority of Americans that celebrate this holiday.
ReplyDeleteHalloween is by far my favorite holiday and this article immediately caught my attention. It shocked me just how much money people put into Halloween supplies, costumes, and decorations, now that's dedication. It actually made me so happy reading that the U.S. will be spending $8.4 Billion, that's the most they have spent on Halloween since 2007 according to your chart. That's so much money the U.S. is putting into just one day and it really does prove just how much the U.S. loves Halloween.
ReplyDelete