Halloween continues to be a big hit in Australia, with a much-needed $490 million increase in spending expected for the spooky season.
Faced with cost-of-living pressures, Australians are hoping to break free and enjoy a night of being someone else as goblins and ghouls take to the streets this Halloween, and paper money isn’t the only source of fear. thinking.
More than 5.3 million Australians will celebrate Halloween this year, with spending expected to reach $490 million. Considering that the holiday has long been ignored as an American-only affair, this is an increase of 14 percent, or $60 million on the already staggering $430 million in spending in 2022.
In the United States, the National Retail Federation predicts a record $12.2 billion in spending. Although we haven’t reached that number in Australia yet, Halloween continues to gain traction, with more than 300,000 more Australians planning to celebrate on October 31st this year.
Research conducted by the Australian Retail Association (ARA) in conjunction with Roy Morgan predicts that the average spend on Halloween will be $93 per person, with most spending on costumes and trick-or-treating items. It turned out that they were planning to purchase sweets and interior decoration items.
Research shows that people who celebrate Halloween plan to celebrate in a variety of ways, including attending or hosting an event. Halloween themed parties, decorating the house, going out in costumes, having sleepovers, etc. Welcome home to trick-or-treaters.
ARA CEO Paul Zahra is encouraging retailers to get through the spooky season.“Retailers also join the party with themed window and store displays as part of the larger event. Halloween is a great chance for Australians to let their hair down and enjoy some spooky silliness in these tough economic times. It is also important for retailers to build sales momentum in the lead-up to Christmas. ”
“Halloween is now a global phenomenon and is becoming increasingly important to Australians.” tradition. It’s a great opportunity for families to dress up, have fun, and get creative. Go shopping, give your house a spooky makeover, and host a party,” Zahra said. “It’s a welcome break from everyday life and a chance to get together with friends and loved ones and do something fun.”