Halloween retail spending to reach 472 million pounds

Halloween has hit the UK with consumers set to spend 472 million pounds this year, according to research from Verdict Retail.

The data reveals that last Halloween, 11.2 percent of consumers carved a pumpkin, 6.8 percent took the kids trick or treating and 5.7 percent decorated the inside of the home. This all attributed to a rise in growth in Halloween clothing and costumes, up 5 percent in 2015 to 155 million pounds, and this year it is expected to rise by a further 3.1 percent to 160 million pounds.

Supermarkets were the most popular place to buy clothing and costumes, with 43.5 percent of consumers buying their costumes there, with Asda being the most popular retail with 24.8 percent.

However, Verdict Retail does note that 57.5 percent of consumers feel that Halloween is a waste of money, while nearly three-quarters (72.3 percent) think Halloween has become far too commercial.

Greg Bromley, senior analyst at Verdict Retail, said: “Wider growing consumer uncertainty and the possibility of price rises in the shops, paired with the event falling on a Monday this year–compared to a Saturday last year – will all affect total retail spending on Halloween.

“In spite of this, we expect spending on Halloween to increase by 2.6 percent to reach 472 million pounds – a sound increase, but a slower level of growth than we have witnessed in the past few years.”