If there's one thing we've learned this year, it's that life continues, regardless of whether there's a pandemic. For better or worse, that's the reality. Even though one of my favorite holidays is going to undoubtedly be impacted by COVID-19, don't expect it to be canceled. And it still offers some investment potential that shouldn't be overlooked. Fright Night Decline?I love Halloween. I enjoy horror stories, ghouls, ghosts, demons and slasher flicks. But like everything in 2020, this Halloween is going to be different from those of years past. Typically, 32% of Americans go trick-or-treating. This year, only about 14% will. Some cities are even recommending that trick-or-treating be skipped altogether. And it's no surprise that the percentage of people planning to attend Halloween parties is expected to decline from 41% in a normal year to just 19% this year. But don't fear. Not all is lost. Amazingly, 46% of consumers still plan to wear a costume, which is only a 1% decline from 2019. That may be because people are more than comfortable now celebrating events virtually. But humans aren't the only ones dressing up for the holiday. Hundreds of millions of dollars will be spent on pet costumes. The most popular pet costume this year will be a pumpkin, with 10% of pet owners dressing their furry family members up as one. In total, Americans will spend approximately $8.05 billion on Halloween. Now, that's an 8% drop from the $8.78 billion spent in 2019, but that's purely from a drop in participation. So, all things considered, that's far from apocalyptic. Those who are planning to celebrate Halloween expect to spend more than last year, which is even more encouraging. In fact, average spending is projected to jump more than 6.5%. But here's the deal... Spending is kicking off earlier than normal, beginning this month. Everything is being ordered online, so it appears consumers are allowing for a lot more lead time. Of course, besides the scary movies, spooky decorations and chances to dress up as your favorite character, Halloween is really centered on one thing and one thing only: candy. | 
No comments:
Post a Comment