Halloween is predicted to see consumers spend £472 million on costumes, pumpkins, food and drinks this year.
Research from Verdict Retail found that in 2015 total spend rose by 4.1 per cent and this is predicted to rise a further 2.6 per cent in 2016r.
Spend on costumes grew by five per cent last year, topping £155 million, and is expected to see a further 3.1 per cent growth to £160 million.
However, themed entertainment and stationary grew most significantly – rising 6.5 per cent in 2015 to £75 million – which is predicted to continue with £3.8 per cent growth to £77 million.
Supermarkets fared best from Halloween, as 43.5 per cent of consumers bought their costumes from one.
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Despite Tesco seeing the most spend on food with 25.7 per cent of shoppers purchasing from the grocer, Asda fared best for costumes and stationary with 24.8 per cent and 22.1 per cent picking the retailer respectively.
“Wider growing consumer uncertainty and the possibility of price rises in the shops, paired with the event falling on a Monday this year – compared to a Saturday last year – will all affect total retail spending on Halloween,” Verdict Retail senior analyst Greg Bromley said.
“In spite of this, we expect spending on Halloween to increase by 2.6 per cent to reach £472 million – a sound increase, but a slower level of growth than we have witnessed in the past few years.
“To win the greatest share of consumer spend, participating retailers must look to offer sharp prices on the ‘Halloween essentials‘ such as pumpkins, decorations for the home, and fancy dress, while offering immersive and engaging visual merchandising to drive interest and footfall to stores.”