Liquidity Services- October 14, 2015
Halloween is fast approaching, and that means consumers will be getting ready for trick-or-treating, costume parties, and outfitting their homes with scary decor. The weeks leading up to Halloween see increased consumer spending, and yet, it's often overlooked as a retail holiday.
There is a big opportunity for Halloween-themed sales for organizations selling surplus goods on the secondary market. This article will look at some of the biggest trends for the holiday this year as well as some strategies to help you capitalize on them.
Major Trends for Halloween 2015
In total, Americans spent roughly $7.4 billion on Halloween-related purchases in 2014. About $2.8 billion was spent on costumes, and an additional $350 million went toward pet costumes. Spending on candy reached $2.2 billion, with decorations rounding out the celebrations at $2 billion.1
Here are a few major Halloween trends expected to take place this year:2
- Do-it-yourself costumes and decor. With the massive popularity of sites like Pinterest and Instagram, consumers are overflowing with inspiration for their own Halloween creations. While many customers will still look to buy a complete costume, a large portion of Halloween fanatics will seek out separate accessories they can assemble into a unique costume.
- Consumers looking for great price/value. Even as economic conditions improve, consumers are still extremely value-conscious. They want quality products at an affordable price point. Halloween shoppers aren't necessarily looking for the "hot" items, but are instead going for the classic costumes and decor.
- Costumes for the whole family. Retailers and manufacturers are anticipating more consumers to go for family-wide themed costumes this year. In many cases, boys', girls' and adults' costumes will be packaged together to attract customers looking to match the rest of their families during the holiday festivities.
How You Can Tap into the Halloween Market This Year
You might think that your current inventory lacks Halloween-related goods that you can sell as part of a Halloween-themed promotion. But with a little creativity and holiday spirit, you can revamp your listings to attract Halloween shoppers to your pages. Here are a few tips to bring customers to your pages.
- Sell them on making their own costumes and decor. You may be selling a bunch of plain clothes, but to a DIY costume maker, there's an opportunity for a scary/funny/crazy costume. Similarly, large batches of items seemingly unrelated to the holiday could provide inspiration for Halloween decorations. Look up some craft ideas that incorporate what you have on hand and use those to interest customers.
- Make your listings reflect the holiday. If you have a surplus of toy swords up for sale, it's easy to change that listing to something like "Knight costume accessory," or similar. As an added bonus, if you have items that can be sold together, you can make them a package deal.
- Offer expedited shipping. Consumers have a lot of options for Halloween decorations and costumes. Expedited shipping is always a selling point, but it could be a major deciding factor for customers who wait until the last minute.
How do you plan on getting in the Halloween spirit? Do you have any other tactics you plan on using to make an impression? Let us know through our Twitter, Facebook, or LinkedIn accounts. If you're looking to join in on the Halloween shopping craze, please contact us to see how Liquidity Services can help you sell Halloween-themed items on your own site or on our B2C marketplace, Secondipity.com.
1 From Fortune, "Here are the big terrifying numbers on Halloween spending", http://fortune.com/2014/10/31/here-are-the-big-terrifying-numbers-on-halloween-spending/
2 From Selling Halloween, "Top Halloween Trends for 2015", http://sellinghalloween.edgl.com/feature-article/Top-Halloween-Trends-for-201597324