Shoppers will moderate their spending this Hallowe’en this year, spooked by Brexit uncertainty and environmental concern, new analysis suggests.
Data and analytics company GlobalData forecasts that shoppers will spend £467.3m ahead of October 31, just 0.6% ahead of the same time last year. Last year, Hallowe’en shoppers spent 2% more than the previous year. The analysis suggests that shoppers will in particular hold back on spending on costumes (+1.1%).
Zoe Mills, retail analyst at GlobalData, said: “The Brexit deadline of October 31 will have a significant impact on Hallowe’en this year. UK consumers have been investing more in this occasion over the past couple of years but now will be limiting their spend.
“For value and discount retailers, there will still be opportunities to entice spending in areas where shoppers plan to trade down - for example, food categories such as sweets for trick or treating.
“Greater environmental concerns will impact the market this year as plastic use has been at the forefront of shoppers’ mids. The commercial nature of this event has seen a number of consumers aim to limit plastic waste, and retailers must highlight their own thoughtfulness regarding this topic by highlighting sustainable solutions such as biodegradable glitter and non-plastic accessories such as wooden broomsticks.
“Alongside this, clothing brands targeting the adult costumes market in particular should be creating ‘how to’ guides to show how shoppers can utilise everyday clothing for costumes to ensure that these purchases are worn more than just once.”