The Week in Retail: Valuable Halloween Trends for Retailers

//The Week in Retail: Valuable Halloween Trends for Retailers

Halloween is right around the corner. October 31st has transformed from a kid-centric holiday into a major consumer holiday that now includes millennials and older adults. National Retail Federation’s 2015 Halloween Consumer Spending Survey was designed to measure consumer behavior and shopping trends related to Halloween spending. According to the survey, 67.8% of people will hand out candy, 43.5% will dress in costume, and 41% of people are planning to carve pumpkins. 31.5% of consumers plan to throw or attend a party with friends and family. The National Retail Federation has a great slideshow on Top 2015 Halloween Trends along with downloadable Halloween data and sample charts. (NRF.com)

When does Halloween retail peak and how can retailers prepare for Halloween? FootFall, a global retail intelligence services company, analysed previous Halloween activity across several markets worldwide and came up with key findings. Since Halloween falls on a Saturday this year, it makes it an even greater opportunity for retailers to boost revenue. Monitoring consumer activity throughout the day, using a people counter and additional analytics, and adjusting the store associates’ shifts to ensure more staff are available at peak trading times are just some examples of how retailers can boost profitability. (FootFall.com)

“Employees play a critical role in this equation, becoming the literal “face” of the company when interacting with customers. And since the vast majority of retail sales still take place in stores, investing to improve this pivotal customer interaction makes compelling bottom-line sense.” Accenture’s Growth through customer facing talent in retail report shows how boosting a retailer’s customer facing sales performance—how employees interact with customers produces compelling benefits. (Accenture.com)

2016 will be a significant year for mobile payments. Payments via mobile are expected to triple. “Several factors will drive substantial mobile payments growth in the US. Mobile wallets like Apple Pay, Android Pay and Samsung Pay will become a standard feature on new smartphones,” said eMarketer analyst Bryan Yeager. “Also, more merchants will adopt point-of-sale systems that can accept mobile payments, and incentives like promotions and loyalty programs will be integrated to attract new users.” (eMarketer)

Feature Photo Source: Jody Miller 

2017-10-03T20:08:10+00:00 October 30th, 2015|Articles|