Despite economic uncertainty moving into Q4, the 2023 Halloween season is expected to see record-breaking consumer spending in the US, meaning more chances for radio revenue. According to a recent survey conducted by the National Retail Federation and Prosper Insights & Analytics, total Halloween spending is projected to hit $12.2 billion.
The previous record is last year’s $10.6 billion. 73% of Americans plan to participate in Halloween activities, up from 69% last year. This surge in consumer spending offers a significant opportunity for radio stations to collaborate with retailers for Halloween promotions.
Discount stores remain the leading destination for Halloween shopping (40%), followed by specialty Halloween/costume stores (39%) and online (32%). Nearly half (45%) of those celebrating Halloween plan to start shopping before October, providing an extended window for radio promotion tie-ins.
With consumer spending on costumes expected to reach a record $4.1 billion, radio stations can partner with costume stores for remotes, contests, or special deals. The data also shows that social media platforms like TikTok, Pinterest, and Instagram are becoming increasingly popular for costume inspiration, offering radio stations the chance to engage younger audiences through these platforms.
The NRF site has the full findings.
