Halloween to generate $10.6 billion

Photo: Riana Griffith

Halloween may give people the chance to dress up and collect candy, but it also provides an opportunity for businesses to capitalize on celebrations and generate revenue

Still enduring the COVID-19 pandemic, consumers spent a total of $10.1 billion for Halloween in 2021, according to a survey conducted by the National Retail Federation. Spending is expected to increase this year, with an estimated amount of $10.6 billion.

While some consumers may wait until the end of October to shop for their costumes, companies started releasing their products as early as the summer.

Many retail chains, such as Target Corp. and Walmart Inc., began advertising campaigns for their Halloween products in late August.

Starbucks Corp. used to receive backlash for selling its signature pumpkin spice lattes before autumn even started. People felt it was too early for pumpkin-themed decor, with states still enduring heatwaves.

“You are not welcome until October,” a user who goes by @bagpipesandbeer tweeted regarding the seasonal drink in August 2014.

Starbucks brought the drink back to stores this year on Aug. 30., which is three days later compared to 2021.

Many businesses followed suit, introducing their own pumpkin spice beverages and snacks to their menus and store shelves. Dunkin’ brought back its fall menu items to locations this year on Aug. 19.