Australians are getting into the spooky season spirit this year, with retailers set to enjoy a $450 million boost from Halloween spending in 2024.
New data from Roy Morgan shows that 21 per cent of Australians say they are planning to celebrate the event, and that of those participating, each person will spend an average of $93.
ARA CEO Paul Zahra says Halloween has cemented its status as an important seasonal event for Australian retailers in recent years.
“From costumes to cosmetics to confectionery, Australians are enjoying getting ghoulish during the lead up to Thursday October 31,” Mr Zahra said.
“Halloween is a wonderful opportunity for families with many parents choosing to dress up with their children for trick or treating, or host costume parties with friends and relatives. Many adults are also getting into the spooky season and hosting adult parties.
“This $450 million sugar-hit will be greatly appreciated by retailers who continue to face challenging economic conditions,” he said.
The Halloween categories Australians will be spending on include:
- Trick or treating: 45%
- Treats for trick or treaters: 38%
- Halloween costumes: 37%
- Home decorations: 32%
- Attending or hosting: 18%
Australians aged 35-59 are the most likely to celebrate Halloween (34%) followed closely by under 35s (25%).
While the cash injection will provide a much-needed retail boost, Mr Zahra noted that spending on Halloween this year is down $40 million compared to last year’s figure of $490 million.
“We’re continuing to see softened discretionary spending habits in line with the cost-of-living crunch,” Mr Zahra said.
“Despite this, Australians continue to get into the spirit of these celebratory seasonal moments, and many retailers are well poised to take advantage of those opportunities.”