"Back in 2002, when economic growth was fairly soft following the events of September 11, we saw strong spending at Halloween," explained George Van Horn, senior analyst at IBISWorld. "Retailers will be pulling out all the promotional stops to ensure this year follows the pattern of 2002."
According to IBISWorld, this year's Halloween sales can be broken down into four product segments:
- Costumes – 35.9 percent
- Candy – 30.5 percent
- Decorations (including pumpkins) – 27.4 percent
- Greeting cards – 6.2 percent
Reports reveal that when suiting up for Halloween consumers typically choose to buy, rather than rent their ghoulish gear. The total market for costume rental and purchases is worth $2.1 billion a year – 70 percent of which is derived from Halloween – while the rental sector is worth $200 million annually as a stand-alone segment.
As for the traditional pumpkin, the majority of Americans buy from their regular supermarkets and greengrocers, whilst non-urban districts individual growers and farmers covering their front lawns with pumpkins should do a roaring trade from passing traffic and local families in the know. Total domestic pumpkin production this year for Halloween alone will amount to 116 million units, with sales worth $123.4 million.
About IBISWorld, Inc.
Recognized as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every U.S. industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information visit www.ibisworld.com or call 1-800-330-3772.
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