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Last-minute Halloween costume shopping could spike this week: data

Internal data from Bank of America shows a surge in last-minute Halloween spending.
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The Halloween season is about to wrap up, but new data suggests this week could see a spike in last-minute holiday spending. Bank of America internal credit card data shows retail spending at novelty shops and other popular destinations for costumes increased 30% in the final week of October last year.

If such a surge happens again, it could show that not everyone is following the prevailing trend of doing their Halloween shopping earlier in the season. The National Retail Federation’s annual survey found that 47% of participants started shopping before October. This is up from 37% five years ago and 32% 10 years ago. In the 25–34 age group, 56% said they plan to shop before October.

The same survey predicted that total Halloween spending was expected to hit $11.6 billion, down 5% from last year’s $12.2 billion. Out of that total, $3.8 billion is expected to go to costumes. That places costumes neck and neck with decorations, though the latter have generated more headlines this year amid a craze for 12-foot skeletons and other large plastic characters.

Breaking down costume spending, NRF predicts that $1.8 billion will go to adult costumes, while $1.3 will go to children’s costumes and $0.7 billion to pet costumes. Per the survey, Spider-Man, Batman, and Halloween mainstays such as ghosts, vampires, and witches are among the most popular choices.

Retail news that keeps industry pros in the know

Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.