Compared to the Halloween of the past years, sales for businesses, companies, and industries always increase tremendously. Businesses always bloom during Halloween since a lot of participants will be buying costumes, sweets, pumpkins, decorations, and many more. Companies take advantage of the Holiday to get more sales going, but with a lot of compromisations and restrictions caused by the pandemic, a lot of people will not be interested to spend much this Halloween. Affecting many businesses in terms of customer engagement, sales, and traffic, which is why it is expected that this Halloween’s expenditure will drastically go down because of the decrease in consumers.
Each individual is affected differently in this pandemic, but with consistent rising numbers of COVID-19 cases in the US, it is no surprise that the economy is badly affected as well. The expenditure for this upcoming Halloween will have the same effect since Halloween statistics present that the annual expenditure is expected to drop by 10% from 8.8 billion dollars to 8 billion dollars. This is the result of fewer consumers and participants that are most likely badly affected by the pandemic and there are several people as well that are simply not interested to partake in Halloween.
In the following infographic from CouponLawn, learn more about:
- Why Americans are going to spend 10% less
- Why Americans became less interested in Halloween 2020
- Statistics for how many children are allowed to go trick-or-treating
- The top activities for Halloween 2020
- Pumpkin price increase
Although the expenditure lost millions of pounds, it is important to remember that this is only temporary, since the reason why the expenditure dropped is mostly because of the pandemic. As we all know, the pandemic caused a lot of jobs to shut down, leading more and more people to contribute to the increasing rate of unemployment. The same goes for those businesses that were forced to shut down to avoid the risk of getting COVID-19. Those two factors already come up for most of the percentage of money in the annual expenditure.
Despite the loss of businesses and jobs, the majority still chooses to commemorate Halloween in their own ways. This goes to show that there are families out there that are still willing to spend their money during the holiday, contributing to the annual expenditure. The streets may not be filled with children in costumes, parties, and people in general, but many will still celebrate the holiday to carry on the essence of Halloween without risking their lives. Besides, things may be different and difficult now, but soon when everything goes back to normal, the economy will regain stabilisation again, and Halloween expenditures go back to normal or even increase.
Dennis Relojo-Howell is the founder of Psychreg.